Friedenthal Financial Makes New $712,000 Investment in Clearway Energy, Inc. (NYSE:CWEN)

Friedenthal Financial acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 28,831 shares of the company's stock, valued at approximately $712,000.

Other large investors also recently modified their holdings of the company. Mutual of America Capital Management LLC bought a new position in shares of Clearway Energy during the fourth quarter worth approximately $396,000. Everence Capital Management Inc. acquired a new stake in shares of Clearway Energy during the fourth quarter worth $673,000. Wright Investors Service Inc. bought a new stake in shares of Clearway Energy in the fourth quarter valued at about $858,000. Xponance Inc. bought a new stake in shares of Clearway Energy in the fourth quarter valued at about $214,000. Finally, Knights of Columbus Asset Advisors LLC grew its stake in shares of Clearway Energy by 94.6% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 149,994 shares of the company's stock valued at $4,114,000 after acquiring an additional 72,910 shares in the last quarter. 38.03% of the stock is owned by institutional investors.

Clearway Energy Trading Up 1.9 %

Clearway Energy stock traded up $0.55 during trading hours on Tuesday, hitting $28.70. The stock had a trading volume of 944,458 shares, compared to its average volume of 881,636. The company has a quick ratio of 1.65, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. Clearway Energy, Inc. has a one year low of $18.59 and a one year high of $29.15. The business's 50 day simple moving average is $26.24 and its 200-day simple moving average is $24.65. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 43.48 and a beta of 0.85.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.23). The firm had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The company's quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 earnings per share. On average, equities analysts predict that Clearway Energy, Inc. will post 0.74 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 5.81%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, September 3rd. Clearway Energy's payout ratio is presently 251.52%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CWEN shares. Morgan Stanley upgraded Clearway Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Evercore ISI upped their target price on Clearway Energy from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Tuesday, May 14th. Roth Mkm restated a "buy" rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Finally, StockNews.com raised Clearway Energy from a "sell" rating to a "hold" rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.17.

Clearway Energy Company Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.

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