Magnetar Financial LLC Takes Position in Clearway Energy, Inc. (NYSE:CWEN)

Magnetar Financial LLC bought a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 10,970 shares of the company's stock, valued at approximately $285,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC acquired a new stake in Clearway Energy in the fourth quarter valued at approximately $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Clearway Energy in the fourth quarter valued at $51,000. Wilmington Savings Fund Society FSB acquired a new stake in Clearway Energy during the 3rd quarter valued at $71,000. Icon Wealth Advisors LLC acquired a new position in Clearway Energy in the 3rd quarter worth $106,000. Finally, Quarry LP boosted its position in Clearway Energy by 51.6% in the 3rd quarter. Quarry LP now owns 3,671 shares of the company's stock valued at $113,000 after buying an additional 1,249 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

Clearway Energy Stock Performance

Shares of NYSE:CWEN traded down $0.21 during trading on Thursday, hitting $30.05. 917,302 shares of the company traded hands, compared to its average volume of 821,479. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 28.89, a PEG ratio of 1.75 and a beta of 0.92. Clearway Energy, Inc. has a one year low of $21.71 and a one year high of $30.92. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The business's fifty day moving average is $27.25 and its 200-day moving average is $27.56.

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

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.4312 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.74%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date was Monday, March 3rd. Clearway Energy's dividend payout ratio is 229.33%.

Analysts Set New Price Targets

CWEN has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research report on Tuesday. They set a "buy" rating and a $38.00 target price on the stock. StockNews.com upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Finally, Roth Mkm reissued a "buy" rating and set a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Clearway Energy has a consensus rating of "Moderate Buy" and an average target price of $34.71.

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.