Dark Forest Capital Management LP Makes New $655,000 Investment in Clearway Energy, Inc. (NYSE:CWEN)

Dark Forest Capital Management LP purchased a new position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 25,178 shares of the company's stock, valued at approximately $655,000.

A number of other hedge funds have also recently added to or reduced their stakes in CWEN. Tortoise Capital Advisors L.L.C. raised its stake in shares of 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 worth $72,772,000 after buying an additional 186,544 shares in the last quarter. RWC Asset Management LLP lifted its holdings in Clearway Energy by 105.8% in the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock valued at $32,480,000 after acquiring an additional 642,322 shares during the period. abrdn plc lifted its holdings in Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock valued at $15,761,000 after acquiring an additional 141,500 shares during the period. Northwest & Ethical Investments L.P. boosted its position in shares of Clearway Energy by 2.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock worth $15,075,000 after purchasing an additional 14,296 shares in the last quarter. Finally, King Luther Capital Management Corp grew its stake in shares of Clearway Energy by 2,840.3% during the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock worth $14,143,000 after purchasing an additional 525,450 shares during the period. Institutional investors and hedge funds own 84.53% of the company's stock.

Clearway Energy Price Performance

CWEN stock traded up $0.50 during trading on Monday, hitting $29.45. The stock had a trading volume of 989,347 shares, compared to its average volume of 879,650. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The company's 50 day moving average price is $28.58 and its two-hundred day moving average price is $27.48. Clearway Energy, Inc. has a 1-year low of $22.75 and a 1-year high of $31.09.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.10). The firm had revenue of $256.00 million for the quarter, compared to analyst estimates of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. On average, sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.4312 dividend. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend was Monday, March 3rd. Clearway Energy's dividend payout ratio is presently 229.33%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CWEN shares. StockNews.com raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Clearway Energy in a research note on Tuesday, March 25th. They set a "buy" rating and a $38.00 price target on the stock. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.71.

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.