Several other institutional investors have also modified their holdings of the company. ClearBridge Investments Ltd grew its position in shares of Clearway Energy by 49.5% during the second quarter. ClearBridge Investments Ltd now owns 7,841,573 shares of the company’s stock worth $273,200,000 after acquiring an additional 2,594,686 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in Clearway Energy by 4.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 2,745,452 shares of the company’s stock worth $95,651,000 after purchasing an additional 113,077 shares during the period. 1832 Asset Management L.P. lifted its holdings in Clearway Energy by 7.1% in the first quarter. 1832 Asset Management L.P. now owns 1,595,041 shares of the company’s stock worth $57,434,000 after purchasing an additional 106,426 shares during the period. Jennison Associates LLC acquired a new stake in Clearway Energy in the second quarter worth about $36,957,000. Finally, Beach Investment Counsel Inc. PA lifted its holdings in Clearway Energy by 30.4% in the third quarter. Beach Investment Counsel Inc. PA now owns 276,475 shares of the company’s stock worth $8,806,000 after purchasing an additional 64,440 shares during the period. Institutional investors own 77.98% of the company’s stock.
Clearway Energy Price Performance
Shares of NYSE CWEN opened at $33.49 on Wednesday. Clearway Energy, Inc. has a twelve month low of $29.61 and a twelve month high of $41.79. The company has a current ratio of 1.84, a quick ratio of 1.78 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 2.44 and a beta of 0.73. The firm has a 50-day moving average of $33.63 and a two-hundred day moving average of $35.02.
Clearway Energy (NYSE:CWEN – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.15. Clearway Energy had a net margin of 45.32% and a negative return on equity of 12.43%. The company had revenue of $340.00 million during the quarter, compared to the consensus estimate of $358.35 million. As a group, analysts expect that Clearway Energy, Inc. will post 0.94 earnings per share for the current fiscal year.
Clearway Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a dividend of $0.367 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 4.38%. Clearway Energy’s dividend payout ratio is currently 30.50%.
Insider Buying and Selling at Clearway Energy
In other Clearway Energy news, CEO Christopher S. Sotos sold 30,000 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $35.23, for a total transaction of $1,056,900.00. Following the completion of the sale, the chief executive officer now directly owns 266,704 shares of the company’s stock, valued at $9,395,981.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Clearway Energy in a report on Wednesday, October 12th. They issued a “hold” rating for the company. CIBC raised shares of Clearway Energy from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus price target of $37.00.
Clearway Energy Company Profile
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Clearway Energy, Inc engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It operates through the following segments: Conventional Generation, Thermal, Renewable, and Corporate. The Renewable segment include solar and wind business.
Further Reading
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