Congress Asset Management Co. Buys 12,640 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Congress Asset Management Co. boosted its position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,876 shares of the company's stock after purchasing an additional 12,640 shares during the period. Congress Asset Management Co. owned 0.10% of Clearway Energy worth $5,249,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. abrdn plc lifted its position in shares of Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock worth $15,761,000 after buying an additional 141,500 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Clearway Energy by 4.6% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 498,000 shares of the company's stock worth $12,948,000 after buying an additional 22,000 shares during the last quarter. Yaupon Capital Management LP lifted its position in shares of Clearway Energy by 209.3% in the third quarter. Yaupon Capital Management LP now owns 325,643 shares of the company's stock worth $9,991,000 after buying an additional 220,360 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Clearway Energy in the third quarter worth about $3,532,000. Finally, Van ECK Associates Corp lifted its position in shares of Clearway Energy by 3.5% during the 3rd quarter. Van ECK Associates Corp now owns 64,852 shares of the company's stock worth $1,990,000 after purchasing an additional 2,213 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company's stock.

Insider Activity at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now directly owns 8,153 shares in the company, valued at $218,011.22. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.52% of the company's stock.

Clearway Energy Stock Performance

Shares of NYSE CWEN traded up $0.37 during trading hours on Friday, hitting $27.42. 1,228,193 shares of the company's stock were exchanged, compared to its average volume of 757,119. 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 current ratio of 1.59 and a quick ratio of 1.49. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.73 and a beta of 0.88. The company's 50-day moving average price is $26.05 and its 200-day moving average price is $27.57.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.4312 per share. This represents a $1.72 annualized dividend and a yield of 6.29%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 3rd. Clearway Energy's payout ratio is currently 163.46%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Clearway Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.57.

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.