First Trust Advisors LP Boosts Stake in Clearway Energy, Inc. (NYSE:CWEN)

First Trust Advisors LP increased its holdings in shares of Clearway Energy, Inc. (NYSE:CWENFree Report) by 4.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 912,578 shares of the company’s stock after acquiring an additional 38,032 shares during the period. First Trust Advisors LP owned approximately 0.45% of Clearway Energy worth $25,032,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CWEN. National Bank of Canada FI grew its holdings in Clearway Energy by 9.6% in the fourth quarter. National Bank of Canada FI now owns 313,480 shares of the company’s stock valued at $8,512,000 after purchasing an additional 27,343 shares during the period. Principal Street Partners LLC lifted its position in shares of Clearway Energy by 21.0% during the 4th quarter. Principal Street Partners LLC now owns 212,573 shares of the company’s stock valued at $5,831,000 after buying an additional 36,908 shares in the last quarter. Bank of Nova Scotia grew its stake in Clearway Energy by 113.4% in the 4th quarter. Bank of Nova Scotia now owns 211,727 shares of the company’s stock valued at $5,808,000 after acquiring an additional 112,496 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in Clearway Energy by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 149,994 shares of the company’s stock worth $4,114,000 after acquiring an additional 72,910 shares in the last quarter. Finally, Meritage Portfolio Management raised its position in Clearway Energy by 163.6% during the fourth quarter. Meritage Portfolio Management now owns 136,007 shares of the company’s stock worth $3,731,000 after acquiring an additional 84,402 shares during the period. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Se Totalenergies purchased 196,964 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was acquired at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the purchase, the director now directly owns 295,235 shares in the company, valued at approximately $6,749,072.10. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CWEN. Roth Mkm lifted their target price on shares of Clearway Energy from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Royal Bank of Canada reduced their target price on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Evercore ISI lifted their price target on Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Marathon Capitl reiterated an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. Finally, StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

View Our Latest Research Report on CWEN

Clearway Energy Price Performance

NYSE:CWEN opened at $27.33 on Tuesday. Clearway Energy, Inc. has a one year low of $18.59 and a one year high of $30.35. The stock has a market cap of $5.52 billion, a PE ratio of 41.41 and a beta of 0.89. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.65 and a current ratio of 1.71. The stock has a 50 day moving average price of $25.06 and a 200 day moving average price of $24.52.

Clearway Energy (NYSE:CWENGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.25. Clearway Energy had a return on equity of 1.67% and a net margin of 5.97%. The company had revenue of $263.00 million during the quarter, compared to analysts’ expectations of $286.26 million. Clearway Energy’s revenue was down 8.7% on a year-over-year basis. Equities research analysts expect that Clearway Energy, Inc. will post 1.01 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 6.00%. Clearway Energy’s payout ratio is 248.49%.

Clearway Energy Company Profile

(Free Report)

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.

Further Reading

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

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