CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Acquires 24,000 Shares of Clearway Energy, Inc. (NYSE:CWEN)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 522,000 shares of the company's stock after acquiring an additional 24,000 shares during the quarter. Clearway Energy comprises approximately 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its 20th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.26% of Clearway Energy worth $15,801,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CWEN. Tortoise Capital Advisors L.L.C. boosted its position in Clearway Energy by 7.1% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock worth $72,772,000 after purchasing an additional 186,544 shares during the period. Northwest & Ethical Investments L.P. lifted its stake in shares of Clearway Energy by 2.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock worth $15,075,000 after buying an additional 14,296 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Clearway Energy by 2,840.3% during the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock worth $14,143,000 after buying an additional 525,450 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of Clearway Energy by 85.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock worth $13,932,000 after buying an additional 247,460 shares during the period. Finally, Voloridge Investment Management LLC grew its stake in Clearway Energy by 251.4% in the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock valued at $12,235,000 after buying an additional 336,668 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft began coverage on Clearway Energy in a research note on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $35.50.

Clearway Energy Stock Performance

CWEN traded down $0.47 during trading on Tuesday, reaching $31.54. 972,686 shares of the company's stock were exchanged, compared to its average volume of 881,419. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 1.33. The business has a 50 day moving average price of $30.26 and a 200 day moving average price of $28.32. Clearway Energy, Inc. has a fifty-two week low of $24.02 and a fifty-two week high of $32.70. The company has a market capitalization of $6.38 billion, a P/E ratio of 39.42, a PEG ratio of 0.76 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. The company had revenue of $298.00 million for the quarter, compared to the consensus estimate of $305.74 million. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The company's quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. As a group, analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.4384 dividend. This represents a $1.75 annualized dividend and a dividend yield of 5.56%. The ex-dividend date was Monday, June 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's payout ratio is currently 218.75%.

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.