Van ECK Associates Corp Increases Stake in Clearway Energy, Inc. (NYSE:CWEN)

Van ECK Associates Corp boosted its stake in shares of Clearway Energy, Inc. (NYSE:CWEN – Get Rating) by 74.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,289 shares of the company’s stock after acquiring an additional 552 shares during the quarter. Van ECK Associates Corp’s holdings in Clearway Energy were worth $41,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB raised its position in Clearway Energy by 21.7% during the fourth quarter. Nordea Investment Management AB now owns 66,604 shares of the company’s stock valued at $2,113,000 after acquiring an additional 11,879 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Clearway Energy by 3.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 19,042 shares of the company’s stock valued at $607,000 after buying an additional 600 shares in the last quarter. Eagle Global Advisors LLC increased its position in shares of Clearway Energy by 7.8% in the fourth quarter. Eagle Global Advisors LLC now owns 78,276 shares of the company’s stock valued at $2,495,000 after buying an additional 5,696 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Clearway Energy by 4.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 11,248 shares of the company’s stock worth $358,000 after buying an additional 463 shares during the period. Finally, Benjamin Edwards Inc. raised its stake in shares of Clearway Energy by 109.3% during the 4th quarter. Benjamin Edwards Inc. now owns 1,840 shares of the company’s stock worth $59,000 after buying an additional 961 shares during the period. 77.98% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Stock Down 2.2 %

NYSE CWEN opened at $29.95 on Friday. The business has a fifty day moving average price of $30.76 and a 200 day moving average price of $32.46. Clearway Energy, Inc. has a one year low of $28.75 and a one year high of $41.79. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.94 and a current ratio of 2.02. The company has a market cap of $6.05 billion, a P/E ratio of 5.68 and a beta of 0.73.

Clearway Energy (NYSE:CWEN – Get Rating) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.88) by $0.98. Clearway Energy had a negative return on equity of 9.85% and a net margin of 48.58%. The firm had revenue of $268.00 million during the quarter, compared to the consensus estimate of $313.21 million. Research analysts anticipate that Clearway Energy, Inc. will post 1.85 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.382 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.38. This represents a $1.53 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Wednesday, May 31st. Clearway Energy’s dividend payout ratio is presently 28.46%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CWEN shares. Oppenheimer reduced their target price on Clearway Energy from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. StockNews.com started coverage on Clearway Energy in a research note on Thursday. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and an average target price of $37.75.

Insider Buying and Selling at Clearway Energy

In related news, Director Infrastructure Investor Global bought 71,980 shares of the company’s stock in a transaction on Friday, March 31st. The stock was bought at an average cost of $31.15 per share, for a total transaction of $2,242,177.00. Following the acquisition, the director now directly owns 172,601 shares in the company, valued at $5,376,521.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is owned by company insiders.

Clearway Energy Company Profile

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Clearway Energy, Inc engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It operates through the following segments: Conventional Generation, Thermal, Renewable, and Corporate. The Renewable segment include solar and wind business.