Kayne Anderson Capital Advisors LP Purchases 73,001 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Kayne Anderson Capital Advisors LP increased its position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 44.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,328 shares of the company's stock after buying an additional 73,001 shares during the quarter. Kayne Anderson Capital Advisors LP owned 0.12% of Clearway Energy worth $6,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of Clearway Energy in the 3rd quarter valued at $3,532,000. Hancock Whitney Corp purchased a new stake in Clearway Energy during the third quarter valued at about $1,486,000. National Bank of Canada FI grew its stake in shares of 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 buying an additional 29,262 shares during the last quarter. abrdn plc grew its stake in shares of Clearway Energy by 30.7% during the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock valued at $15,761,000 after buying an additional 141,500 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Clearway Energy by 14.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 12,321 shares of the company's stock valued at $320,000 after acquiring an additional 1,599 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

Clearway Energy Stock Performance

Clearway Energy stock opened at $28.77 on Wednesday. Clearway Energy, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.75 and a beta of 0.92. The stock's 50 day simple moving average is $26.31 and its two-hundred day simple moving average is $27.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59.

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Clearway Energy (NYSE:CWEN - Get Free Report) last issued 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 firm had revenue of $256.00 million during the quarter, compared to analysts' expectations of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. As a group, analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.4312 per share. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.99%. Clearway Energy's dividend payout ratio (DPR) is currently 229.33%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CWEN. StockNews.com upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Roth Mkm reaffirmed a "buy" rating and set a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $34.17.

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.

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