Connor Clark & Lunn Investment Management Ltd. increased its holdings in Clearway Energy Inc (NYSE:CWEN) by 102.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,700 shares of the company’s stock after buying an additional 34,250 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Clearway Energy were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Tortoise Capital Advisors L.L.C. bought a new position in Clearway Energy in the third quarter worth approximately $29,000. Csenge Advisory Group purchased a new position in Clearway Energy in the third quarter worth $32,000. Kayne Anderson Capital Advisors LP purchased a new position in Clearway Energy in the third quarter worth $107,000. Point72 Hong Kong Ltd purchased a new position in Clearway Energy in the third quarter worth $129,000. Finally, Alps Advisors Inc. grew its holdings in Clearway Energy by 28.6% in the fourth quarter. Alps Advisors Inc. now owns 37,699 shares of the company’s stock worth $650,000 after purchasing an additional 8,378 shares during the last quarter. 30.66% of the stock is owned by institutional investors.
Several equities analysts have issued reports on the stock. ValuEngine raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Macquarie lowered shares of Clearway Energy from an “outperform” rating to a “neutral” rating in a report on Friday, February 15th. Guggenheim lowered shares of Clearway Energy from a “neutral” rating to a “sell” rating and set a $11.00 price target on the stock. in a report on Wednesday, February 13th. Zacks Investment Research lowered shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 15th. Finally, TheStreet lowered shares of Clearway Energy from a “b-” rating to a “c” rating in a report on Friday, December 7th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Clearway Energy presently has a consensus rating of “Hold” and an average price target of $16.50.
NYSE CWEN opened at $14.72 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.02 and a current ratio of 1.07. Clearway Energy Inc has a 12-month low of $12.12 and a 12-month high of $20.75. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 1.20 and a beta of 1.22.
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend was Thursday, February 28th. Clearway Energy’s dividend payout ratio is currently 173.91%.
In related news, insider Christopher S. Sotos acquired 6,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $14.49 per share, with a total value of $94,185.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Infrastructure Investor Global acquired 132,612 shares of the company’s stock in a transaction dated Thursday, December 27th. The shares were bought at an average cost of $16.59 per share, for a total transaction of $2,200,033.08. The disclosure for this purchase can be found here. Insiders acquired 152,062 shares of company stock worth $2,483,596 over the last ninety days. Corporate insiders own 0.24% of the company’s stock.
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Clearway Energy Profile
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).
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