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 grew its position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 4.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 522,000 shares of the company's stock after buying an additional 24,000 shares during the period. Clearway Energy makes up 1.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 20th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.26% of Clearway Energy worth $15,801,000 at the end of the most recent quarter.

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

Clearway Energy Stock Up 0.2%

NYSE CWEN traded up $0.06 on Friday, reaching $32.17. The company had a trading volume of 1,361,119 shares, compared to its average volume of 879,738. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 40.22, a price-to-earnings-growth ratio of 0.76 and a beta of 0.87. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.42 and a current ratio of 1.52. Clearway Energy, Inc. has a 1-year low of $24.02 and a 1-year high of $32.64. The company's fifty day moving average is $30.17 and its 200-day moving average is $28.28.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.28. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The firm had revenue of $298.00 million during the quarter, compared to analyst estimates of $305.74 million. During the same period in the prior year, the business earned ($0.02) EPS. The company's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.4384 per share. The ex-dividend date was Monday, June 2nd. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 annualized dividend and a yield of 5.45%. Clearway Energy's payout ratio is 218.75%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target for the company. Wall Street Zen raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.50.

Clearway Energy Profile

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.