National Bank of Canada FI Acquires 29,262 Shares of Clearway Energy, Inc. (NYSE:CWEN)

National Bank of Canada FI grew its stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 1,778.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,907 shares of the company's stock after purchasing an additional 29,262 shares during the period. National Bank of Canada FI's holdings in Clearway Energy were worth $948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CWEN. Whittier Trust Co. boosted its position in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company's stock worth $50,000 after buying an additional 512 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Clearway Energy in the third quarter worth approximately $50,000. Quarry LP grew its position in Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company's stock valued at $60,000 after purchasing an additional 843 shares in the last quarter. Icon Wealth Advisors LLC purchased a new stake in Clearway Energy in the 3rd quarter worth approximately $106,000. Finally, Recurrent Investment Advisors LLC purchased a new position in shares of Clearway Energy during the 3rd quarter valued at $202,000. Institutional investors and hedge funds own 84.53% of the company's stock.

Clearway Energy Stock Performance

CWEN traded down $0.06 during midday trading on Friday, reaching $27.28. The company's stock had a trading volume of 793,281 shares, compared to its average volume of 861,261. The company has a fifty day simple moving average of $27.83 and a 200 day simple moving average of $27.60. The stock has a market cap of $5.51 billion, a P/E ratio of 26.23, a PEG ratio of 1.26 and a beta of 0.86. 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, Inc. has a twelve month low of $20.63 and a twelve month high of $30.92.

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

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.22%. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy's dividend payout ratio (DPR) is presently 163.46%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Jefferies Financial Group started coverage on Clearway Energy in a research note on Friday, September 20th. They issued a "buy" rating and a $35.00 target price on the stock. BNP Paribas assumed 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. CIBC increased their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an "outperformer" rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, November 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Clearway Energy presently has an average rating of "Moderate Buy" and a consensus price target of $33.13.

Insiders Place Their Bets

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the business's 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 directly owns 8,153 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Corporate insiders own 0.52% of the company's stock.

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.