Beach Investment Counsel Inc. PA Purchases Shares of 1,170,847 Clearway Energy Inc (CWEN)

Beach Investment Counsel Inc. PA purchased a new stake in Clearway Energy Inc (NYSE:CWEN) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,170,847 shares of the company’s stock, valued at approximately $22,539,000. Clearway Energy makes up 2.2% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 12th largest holding.

A number of other large investors have also recently added to or reduced their stakes in the business. Whittier Trust Co. acquired a new position in shares of Clearway Energy during the third quarter worth approximately $114,000. NEXT Financial Group Inc acquired a new position in shares of Clearway Energy during the third quarter worth approximately $186,000. Gilman Hill Asset Management LLC acquired a new position in shares of Clearway Energy during the third quarter worth approximately $193,000. Financial Gravity Wealth Inc. acquired a new position in shares of Clearway Energy during the third quarter worth approximately $221,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Clearway Energy during the third quarter worth approximately $305,000. Hedge funds and other institutional investors own 29.00% of the company’s stock.

CWEN opened at $19.49 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 2.29. The company has a market cap of $3.76 billion, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 0.45 and a beta of 1.83. Clearway Energy Inc has a fifty-two week low of $15.55 and a fifty-two week high of $20.75.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.27. The business had revenue of $307.00 million during the quarter, compared to the consensus estimate of $274.39 million. Clearway Energy had a net margin of 5.20% and a return on equity of 6.42%. On average, equities research analysts anticipate that Clearway Energy Inc will post 1.72 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Clearway Energy from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, October 23rd. TheStreet upgraded shares of Clearway Energy from a “c” rating to a “b-” rating in a research report on Wednesday, October 31st.

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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Institutional Ownership by Quarter for Clearway Energy (NYSE:CWEN)

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