Clearway Energy Inc (CWEN) Major Shareholder Infrastructure Investor Global Buys 59,727 Shares of Stock
Clearway Energy Inc (NYSE:CWEN) major shareholder Infrastructure Investor Global purchased 59,727 shares of the stock in a transaction on Thursday, November 8th. The stock was acquired at an average price of $19.75 per share, with a total value of $1,179,608.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
CWEN traded down $0.07 during midday trading on Friday, hitting $19.79. The company’s stock had a trading volume of 399,642 shares, compared to its average volume of 420,508. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.56 and a quick ratio of 0.54. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 0.45 and a beta of 1.83. Clearway Energy Inc has a 52-week low of $15.55 and a 52-week high of $20.75.
Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.33). The business had revenue of $292.00 million during the quarter, compared to analysts’ expectations of $295.37 million. Clearway Energy had a net margin of 4.32% and a return on equity of 6.01%. Equities research analysts anticipate that Clearway Energy Inc will post 1.47 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Gilman Hill Asset Management LLC purchased a new stake in Clearway Energy in the 3rd quarter valued at about $193,000. Financial Gravity Wealth Inc. purchased a new stake in shares of Clearway Energy during the 3rd quarter worth about $221,000. Alpha Windward LLC purchased a new stake in shares of Clearway Energy during the 3rd quarter worth about $515,000. Beach Investment Counsel Inc. PA purchased a new stake in shares of Clearway Energy during the 3rd quarter worth about $22,539,000. Finally, Beach Investment Management LLC. purchased a new stake in shares of Clearway Energy during the 3rd quarter worth about $2,349,000. Institutional investors own 28.71% of the company’s stock.
Several research firms have commented on CWEN. TheStreet upgraded Clearway Energy from a “c” rating to a “b-” rating in a report on Wednesday, October 31st. Zacks Investment Research upgraded Clearway Energy from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Tuesday, October 23rd.
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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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