Clearway Energy, Inc. $CWEN Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC increased its stake in Clearway Energy, Inc. (NYSE:CWEN) by 26.7% in the fourth quarter, Holdings Channel reports. The firm owned 4,656,937 shares of the company’s stock after purchasing an additional 981,488 shares during the period. Clearbridge Investments LLC’s holdings in Clearway Energy were worth $154,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Huntington National Bank boosted its stake in Clearway Energy by 92.4% in the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 412 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after purchasing an additional 705 shares in the last quarter. National Bank of Canada FI boosted its stake in Clearway Energy by 201.9% in the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Clearway Energy by 94.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after purchasing an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new stake in Clearway Energy in the 2nd quarter worth approximately $43,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

Shares of NYSE CWEN opened at $39.74 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The company has a 50 day simple moving average of $39.30 and a two-hundred day simple moving average of $37.25. Clearway Energy, Inc. has a 12 month low of $27.67 and a 12 month high of $41.74. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 993.65 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The firm had revenue of $354.00 million during the quarter, compared to analyst estimates of $340.75 million. As a group, analysts predict that Clearway Energy, Inc. will post -0.87 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.4676 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.87 annualized dividend and a dividend yield of 4.7%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s dividend payout ratio (DPR) is presently 4,675.00%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Clearway Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Deutsche Bank Aktiengesellschaft set a $41.00 price objective on shares of Clearway Energy in a research note on Thursday, April 9th. Morgan Stanley lifted their price objective on shares of Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada lifted their price objective on shares of Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings cut shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and an average price target of $43.00.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.