M&T Bank Corp Buys New Position in Clearway Energy, Inc. (NYSE:CWEN)

M&T Bank Corp bought a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,347 shares of the company's stock, valued at approximately $373,000.

Other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new stake in shares of Clearway Energy during the 3rd quarter valued at approximately $3,532,000. Hancock Whitney Corp acquired a new stake in shares of Clearway Energy during the 3rd quarter valued at approximately $1,486,000. Oppenheimer & Co. Inc. raised its position in shares of Clearway Energy by 14.9% during 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 in the last quarter. National Bank of Canada FI raised its position in shares of Clearway Energy by 1,778.8% during the 3rd quarter. National Bank of Canada FI now owns 30,907 shares of the company's stock valued at $948,000 after acquiring an additional 29,262 shares in the last quarter. Finally, abrdn plc raised its position in shares of Clearway Energy by 30.7% during the 4th quarter. abrdn plc now owns 602,700 shares of the company's stock valued at $15,761,000 after acquiring an additional 141,500 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Roth Mkm reissued 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. StockNews.com upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.17.

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Clearway Energy Stock Performance

Shares of NYSE:CWEN traded up $0.11 on Tuesday, hitting $29.78. The company's stock had a trading volume of 733,746 shares, compared to its average volume of 821,486. Clearway Energy, Inc. has a 12 month low of $20.79 and a 12 month high of $30.92. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The stock's 50-day moving average is $26.61 and its two-hundred day moving average is $27.47. 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 (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $256.00 million during the quarter, compared to the consensus estimate of $299.73 million. On average, equities research analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.4312 dividend. This is a boost from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date was Monday, March 3rd. This represents a $1.72 annualized dividend and a dividend yield of 5.79%. 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.