Clearway Energy, Inc. (NYSE:CWEN) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP raised its position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 206.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,297 shares of the company's stock after purchasing an additional 36,592 shares during the period. Quantbot Technologies LP's holdings in Clearway Energy were worth $1,412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CWEN. RWC Asset Management LLP lifted its position in Clearway Energy by 105.8% during the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock valued at $32,480,000 after acquiring an additional 642,322 shares during the last quarter. abrdn plc raised its stake 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 buying an additional 141,500 shares during the last quarter. Northwest & Ethical Investments L.P. grew its stake in shares of Clearway Energy by 2.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock worth $15,075,000 after purchasing an additional 14,296 shares during the period. King Luther Capital Management Corp increased its holdings in Clearway Energy by 2,840.3% in the fourth quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock valued at $14,143,000 after buying an additional 525,450 shares in the last quarter. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Clearway Energy by 85.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock worth $13,932,000 after buying an additional 247,460 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Clearway Energy Stock Performance

Clearway Energy stock traded up $0.09 during mid-day trading on Friday, reaching $30.16. 1,870,381 shares of the company were exchanged, compared to its average volume of 864,492. The firm's 50-day simple moving average is $27.40 and its two-hundred day simple moving average is $27.59. Clearway Energy, Inc. has a twelve month low of $21.72 and a twelve month high of $30.92. The firm has a market cap of $6.10 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. 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 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 company had revenue of $256.00 million for the quarter, compared to analyst estimates of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Equities analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.4312 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.72%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, March 3rd. Clearway Energy's payout ratio is 229.33%.

Wall Street Analyst Weigh In

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

About Clearway Energy

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.