Hancock Whitney Corp Takes $1.49 Million Position in Clearway Energy, Inc. (NYSE:CWEN)

Hancock Whitney Corp bought a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 48,420 shares of the company's stock, valued at approximately $1,486,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. purchased a new position in shares of Clearway Energy during the second quarter worth $32,310,000. Point72 Asset Management L.P. boosted its holdings in Clearway Energy by 60.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company's stock valued at $25,106,000 after acquiring an additional 384,837 shares during the period. Yaupon Capital Management LP acquired a new position in Clearway Energy in the 1st quarter valued at about $7,346,000. The Manufacturers Life Insurance Company increased its stake in Clearway Energy by 144.8% during the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company's stock worth $10,623,000 after purchasing an additional 254,486 shares during the period. Finally, HITE Hedge Asset Management LLC lifted its position in shares of Clearway Energy by 130.7% during the second quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company's stock worth $6,722,000 after purchasing an additional 154,239 shares in the last quarter. Hedge funds and other institutional investors own 38.03% of the company's stock.

Clearway Energy Stock Up 3.2 %

NYSE CWEN traded up $0.92 during trading on Tuesday, reaching $29.62. 802,418 shares of the company's stock were exchanged, compared to its average volume of 869,162. The company has a 50 day moving average price of $28.19 and a two-hundred day moving average price of $27.44. The stock has a market cap of $5.99 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). The business had revenue of $486.00 million for the quarter, compared to analysts' expectations of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy's revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. On average, equities research analysts anticipate that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.73%. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. Clearway Energy's dividend payout ratio (DPR) is 160.58%.

Analysts Set New Price Targets

CWEN has been the subject of a number of research reports. CIBC lifted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an "outperformer" rating in a report on Tuesday, October 22nd. BNP Paribas started coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 price target for the company. Jefferies Financial Group initiated coverage on Clearway Energy in a report on Friday, September 20th. They issued a "buy" rating and a $35.00 target price for the company. Morgan Stanley raised Clearway Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. Finally, StockNews.com raised Clearway Energy from a "sell" rating to a "hold" rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $33.13.

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.