Financial Gravity Wealth Inc. bought a new stake in shares of Clearway Energy Inc (NYSE:CWEN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,453 shares of the company’s stock, valued at approximately $221,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Alpha Windward LLC bought a new stake in shares of Clearway Energy during the 3rd quarter valued at about $515,000. Gilman Hill Asset Management LLC bought a new stake in shares of Clearway Energy during the 3rd quarter valued at about $193,000. MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in shares of Clearway Energy during the 3rd quarter valued at about $879,000. W.E. Donoghue & Co. LLC bought a new stake in shares of Clearway Energy during the 3rd quarter valued at about $953,000. Finally, NEXT Financial Group Inc bought a new stake in shares of Clearway Energy during the 3rd quarter valued at about $186,000. 29.00% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised shares of Clearway Energy from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Tuesday, October 23rd.
Shares of NYSE CWEN opened at $19.61 on Thursday. Clearway Energy Inc has a 1 year low of $15.55 and a 1 year high of $20.75. The stock has a market cap of $3.79 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 0.45 and a beta of 2.21. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.59 and a quick ratio of 0.54.
Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.27. Clearway Energy had a net margin of 5.20% and a return on equity of 6.42%. The company had revenue of $307.00 million during the quarter, compared to analysts’ expectations of $274.39 million. As a group, research analysts forecast that Clearway Energy Inc will post 1.72 earnings per share for the current fiscal year.
Clearway Energy Company Profile
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).
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