Mirae Asset Global Investments Co. Ltd. Buys 18,036 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Clearway Energy, Inc. (NYSE:CWENGet Rating) by 4.5% during the first quarter, HoldingsChannel reports. The firm owned 419,995 shares of the company’s stock after buying an additional 18,036 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Clearway Energy were worth $15,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in shares of Clearway Energy by 67.9% during the first quarter. Van ECK Associates Corp now owns 851 shares of the company’s stock valued at $31,000 after purchasing an additional 344 shares in the last quarter. Endurance Wealth Management Inc. lifted its holdings in shares of Clearway Energy by 0.4% during the first quarter. Endurance Wealth Management Inc. now owns 88,276 shares of the company’s stock valued at $3,223,000 after purchasing an additional 350 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Clearway Energy by 1.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 54,140 shares of the company’s stock valued at $1,977,000 after purchasing an additional 606 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Clearway Energy by 47.3% during the first quarter. Fifth Third Bancorp now owns 2,005 shares of the company’s stock valued at $73,000 after purchasing an additional 644 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Clearway Energy by 10.8% during the first quarter. Commonwealth Equity Services LLC now owns 7,242 shares of the company’s stock valued at $264,000 after purchasing an additional 708 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Roth Capital reiterated a “buy” rating on shares of Clearway Energy in a research report on Friday, May 27th. StockNews.com upgraded Clearway Energy from a “hold” rating to a “buy” rating in a research report on Thursday. TheStreet upgraded Clearway Energy from a “c+” rating to a “b+” rating in a research report on Tuesday, August 2nd. CIBC assumed coverage on Clearway Energy in a research report on Thursday, June 9th. They set a “neutral” rating and a $36.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on Clearway Energy from $37.00 to $35.00 and set an “equal weight” rating for the company in a research report on Thursday, July 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.75.

Clearway Energy Stock Performance

Shares of CWEN opened at $38.47 on Monday. The company has a quick ratio of 2.13, a current ratio of 2.18 and a debt-to-equity ratio of 1.58. The business has a 50-day simple moving average of $37.42 and a two-hundred day simple moving average of $35.44. The stock has a market cap of $7.77 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 2.54 and a beta of 0.64. Clearway Energy, Inc. has a 52 week low of $29.61 and a 52 week high of $41.79.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were paid a $0.36 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.74%. Clearway Energy’s dividend payout ratio is 30.51%.

Clearway Energy Company Profile

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Clearway Energy, Inc operates in the renewable energy business in the United States. It has approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities. The company was formerly known as NRG Yield, Inc and changed its name to Clearway Energy, Inc in August 2018.

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

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