Bank of Nova Scotia Increases Position in Clearway Energy, Inc. (NYSE:CWEN)

Bank of Nova Scotia raised its position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 85.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,860 shares of the company's stock after acquiring an additional 50,539 shares during the quarter. Bank of Nova Scotia owned approximately 0.05% of Clearway Energy worth $2,856,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mascoma Wealth Management LLC acquired a new position in shares of Clearway Energy in the fourth quarter valued at approximately $28,000. New Age Alpha Advisors LLC purchased a new stake in shares of Clearway Energy during the fourth quarter worth $31,000. SBI Securities Co. Ltd. purchased a new position in Clearway Energy in the fourth quarter valued at $51,000. Wilmington Savings Fund Society FSB acquired a new position in Clearway Energy during the 3rd quarter worth $71,000. Finally, Aster Capital Management DIFC Ltd raised its position in Clearway Energy by 233.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 6,885 shares of the company's stock valued at $179,000 after purchasing an additional 4,823 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Clearway Energy Stock Up 1.0 %

CWEN stock traded up $0.29 during midday trading on Friday, reaching $29.20. 592,018 shares of the company were exchanged, compared to its average volume of 876,412. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 28.08, 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, Inc. has a 1-year low of $22.27 and a 1-year high of $31.09. The stock's 50-day simple moving average is $28.31 and its 200 day simple moving average is $27.52.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly 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 net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $256.00 million during the quarter, compared to analysts' expectations of $299.73 million. On average, equities analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.4312 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from Clearway Energy's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.91%. Clearway Energy's dividend payout ratio is 229.33%.

About Clearway Energy

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.