Clearbridge Investments LLC Buys 981,488 Shares of Clearway Energy, Inc. $CWEN

Clearbridge Investments LLC boosted its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 26.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,656,937 shares of the company’s stock after buying an additional 981,488 shares during the quarter. Clearbridge Investments LLC owned approximately 2.29% of Clearway Energy worth $154,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its position in Clearway Energy by 280.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after purchasing an additional 705 shares during the period. National Bank of Canada FI increased its position in Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Huntington National Bank increased its position in Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after purchasing an additional 412 shares during the period. Geneos Wealth Management Inc. increased its position in Clearway Energy by 94.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after purchasing an additional 600 shares during the period. Finally, Headlands Technologies LLC purchased a new position in Clearway Energy during the 2nd quarter valued at about $43,000. Institutional investors own 84.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CWEN shares. Royal Bank Of Canada raised their target price on shares of Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Morgan Stanley raised their target price on shares of Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, May 27th. Wall Street Zen raised shares of Clearway Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Roth Mkm reaffirmed a “buy” rating and issued a $45.00 price objective (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. Finally, Weiss Ratings downgraded shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Clearway Energy Stock Down 0.0%

Shares of Clearway Energy stock opened at $39.74 on Monday. The firm’s 50 day moving average price is $39.30 and its 200-day moving average price is $37.25. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. Clearway Energy, Inc. has a 52-week low of $27.67 and a 52-week high of $41.74. The company has a market cap of $8.16 billion, a P/E ratio of 993.65 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%.The firm had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $340.75 million. On average, sell-side analysts predict that Clearway Energy, Inc. will post -0.87 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business 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. This is a boost from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, June 1st. This represents a $1.87 dividend on an annualized basis and a yield of 4.7%. Clearway Energy’s dividend payout ratio (DPR) is 4,675.00%.

Clearway Energy Profile

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.