Tortoise Capital Advisors L.L.C. Purchases 186,544 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Tortoise Capital Advisors L.L.C. lifted its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,798,918 shares of the company's stock after purchasing an additional 186,544 shares during the period. Clearway Energy accounts for approximately 0.9% of Tortoise Capital Advisors L.L.C.'s holdings, making the stock its 20th largest holding. Tortoise Capital Advisors L.L.C. owned about 1.38% of Clearway Energy worth $72,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. lifted its holdings in Clearway Energy by 14.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 12,321 shares of the company's stock worth $320,000 after acquiring an additional 1,599 shares in the last quarter. abrdn plc lifted its holdings 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 purchasing an additional 141,500 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of 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 during the period. Simmons Bank bought a new stake in Clearway Energy in the 4th quarter valued at $377,000. Finally, ABC Arbitrage SA acquired a new position in Clearway Energy in the 4th quarter worth $325,000. Institutional investors own 84.53% of the company's stock.

Clearway Energy Stock Down 0.2 %

CWEN traded down $0.06 during trading on Wednesday, reaching $28.16. 1,081,122 shares of the stock were exchanged, compared to its average volume of 878,951. The stock's 50 day moving average price is $28.48 and its two-hundred day moving average price is $27.48. Clearway Energy, Inc. has a twelve month low of $22.69 and a twelve month high of $31.09. The stock has a market cap of $5.69 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. 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 posted its earnings results 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 business had revenue of $256.00 million for the quarter, compared to analyst estimates of $299.73 million. Equities analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 6.13%. 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 currently 229.33%.

Analyst Upgrades and Downgrades

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

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.