Douglas Lane & Associates LLC Takes Position in Clearway Energy, Inc. (NYSE:CWEN)

Douglas Lane & Associates LLC bought a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,500 shares of the company's stock, valued at approximately $378,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RWC Asset Management LLP grew its position in shares of Clearway Energy by 105.8% in the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock valued at $32,480,000 after purchasing an additional 642,322 shares during the period. King Luther Capital Management Corp boosted its stake in 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 worth $14,143,000 after buying an additional 525,450 shares during the last quarter. Voloridge Investment Management LLC grew its holdings 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 period. Jupiter Asset Management Ltd. grew its holdings in 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, Tortoise Capital Advisors L.L.C. increased its stake in shares of Clearway Energy by 7.1% during 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 acquiring an additional 186,544 shares during the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CWEN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clearway Energy in a research report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 target price on the stock. Roth Mkm reaffirmed a "buy" rating and set a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Finally, Wall Street Zen cut shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $35.50.

Clearway Energy Trading Up 1.6%

Shares of Clearway Energy stock traded up $0.48 during trading hours on Tuesday, hitting $30.84. The company's stock had a trading volume of 727,173 shares, compared to its average volume of 878,742. The business has a fifty day moving average of $29.21 and a 200 day moving average of $27.90. Clearway Energy, Inc. has a 1-year low of $24.02 and a 1-year high of $31.09. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $6.24 billion, a PE ratio of 29.65, a P/E/G ratio of 1.75 and a beta of 0.89.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly 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. The firm had revenue of $298.00 million during the quarter, compared to analysts' expectations of $305.74 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm's revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. As a group, equities analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a $0.4384 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.69%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's dividend payout ratio (DPR) is 218.75%.

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.