Clearway Energy, Inc. (NYSE:CWEN) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia grew its position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 85.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 109,860 shares of the company's stock after buying an additional 50,539 shares during the quarter. Bank of Nova Scotia owned 0.05% of Clearway Energy worth $2,856,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Stifel Financial Corp bought a new stake in Clearway Energy during the 3rd quarter valued at $277,000. National Bank of Canada FI boosted its position in Clearway Energy by 1,778.8% during the third quarter. National Bank of Canada FI now owns 30,907 shares of the company's stock valued at $948,000 after purchasing an additional 29,262 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Clearway Energy in the third quarter valued at about $3,532,000. Wilmington Savings Fund Society FSB bought a new position in Clearway Energy in the third quarter worth about $71,000. Finally, Fulton Bank N.A. lifted its position in shares of Clearway Energy by 14.8% during the fourth quarter. Fulton Bank N.A. now owns 14,007 shares of the company's stock valued at $364,000 after buying an additional 1,801 shares during the last quarter. Institutional investors own 84.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Roth Mkm reaffirmed a "buy" rating and set a $34.00 price target (up from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started 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, StockNews.com upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.71.

Clearway Energy Stock Performance

NYSE CWEN traded up $0.29 on Thursday, reaching $29.20. 592,018 shares of the company's stock traded hands, compared to its average volume of 875,885. The stock has a 50 day moving average price of $28.25 and a 200-day moving average price of $27.53. The firm has a market cap of $5.90 billion, a price-to-earnings ratio of 28.08, a P/E/G 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. Clearway Energy, Inc. has a fifty-two week low of $21.81 and a fifty-two week high of $31.09.

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

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.4312 per share. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 5.91%. The ex-dividend date was Monday, March 3rd. Clearway Energy's dividend payout ratio is presently 229.33%.

Clearway Energy Company 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.