CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Purchases 22,000 Shares of Clearway Energy, Inc. (NYSE:CWEN)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 498,000 shares of the company's stock after buying an additional 22,000 shares during the period. Clearway Energy comprises 0.9% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 26th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.25% of Clearway Energy worth $12,948,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in shares of Clearway Energy during the 3rd quarter valued at $3,532,000. Hancock Whitney Corp bought a new stake in Clearway Energy during the third quarter valued at about $1,486,000. National Bank of Canada FI increased its position in Clearway Energy by 1,778.8% in the third quarter. National Bank of Canada FI now owns 30,907 shares of the company's stock worth $948,000 after buying an additional 29,262 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Clearway Energy in the third quarter worth about $1,026,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Clearway Energy by 144.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company's stock valued at $10,623,000 after buying an additional 254,486 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CWEN shares. CIBC increased their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an "outperformer" rating in a report on Tuesday, October 22nd. BNP Paribas started coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an "outperform" rating and a $36.00 price objective on the stock. Finally, StockNews.com downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a report on Saturday, November 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearway Energy currently has an average rating of "Moderate Buy" and a consensus price target of $32.57.

Insider Transactions at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares of the company's stock, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.52% of the company's stock.

Clearway Energy Price Performance

Shares of NYSE:CWEN traded up $0.58 during midday trading on Friday, reaching $25.86. 720,215 shares of the company were exchanged, compared to its average volume of 567,592. The stock has a market cap of $5.23 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88. The business's fifty day moving average is $26.95 and its two-hundred day moving average is $27.54. Clearway Energy, Inc. has a one year low of $20.63 and a one year high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same period last year, the company earned $0.03 EPS. The firm's revenue for the quarter was up 31.0% on a year-over-year basis. As a group, analysts predict that Clearway Energy, Inc. will post 0.82 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.424 dividend. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a yield of 6.56%. Clearway Energy's payout ratio is presently 162.50%.

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.