M&T Bank Corp Increases Position in Clearway Energy, Inc. (NYSE:CWEN)

M&T Bank Corp raised its position in Clearway Energy, Inc. (NYSE:CWEN) by 75.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,225 shares of the company’s stock after purchasing an additional 10,878 shares during the quarter. M&T Bank Corp’s holdings in Clearway Energy were worth $764,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its holdings in Clearway Energy by 7.1% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company’s stock valued at $72,772,000 after acquiring an additional 186,544 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in Clearway Energy by 2.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company’s stock valued at $15,075,000 after acquiring an additional 14,296 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Clearway Energy by 4.8% during the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 522,000 shares of the company’s stock valued at $15,801,000 after acquiring an additional 24,000 shares during the period. Voloridge Investment Management LLC boosted its holdings in Clearway Energy by 251.4% during the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company’s stock valued at $12,235,000 after acquiring an additional 336,668 shares during the period. Finally, Gotham Asset Management LLC boosted its holdings in Clearway Energy by 16.1% during the 4th quarter. Gotham Asset Management LLC now owns 454,965 shares of the company’s stock valued at $11,829,000 after acquiring an additional 63,027 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Performance

Shares of CWEN opened at $32.17 on Tuesday. The stock has a 50-day simple moving average of $30.85 and a 200-day simple moving average of $28.69. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.42 and a current ratio of 1.52. The stock has a market capitalization of $6.50 billion, a PE ratio of 40.21, a PEG ratio of 0.69 and a beta of 0.87. Clearway Energy, Inc. has a 1 year low of $24.40 and a 1 year high of $32.76.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.28. The business had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $305.74 million. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) EPS. On average, analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.4384 per share. This represents a $1.75 annualized dividend and a dividend yield of 5.45%. The ex-dividend date was Monday, June 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.43. Clearway Energy’s dividend payout ratio (DPR) is 218.75%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Clearway Energy in a report on Tuesday, March 25th. They set a “buy” rating and a $38.00 target price for the company. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Clearway Energy Profile

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.