Douglas Lane & Associates LLC Buys Shares of 12,500 Clearway Energy, Inc. (NYSE:CWEN)

Douglas Lane & Associates LLC acquired a new position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 12,500 shares of the company's stock, valued at approximately $378,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. boosted its holdings in Clearway Energy by 14.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 12,321 shares of the company's stock valued at $320,000 after acquiring an additional 1,599 shares during the last quarter. abrdn plc raised its position in Clearway Energy by 30.7% in the 4th quarter. abrdn plc now owns 602,700 shares of the company's stock valued at $15,761,000 after buying an additional 141,500 shares during the last quarter. King Luther Capital Management Corp raised its position 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 valued at $14,143,000 after buying an additional 525,450 shares during the last quarter. Simmons Bank purchased a new stake in shares of Clearway Energy during the 4th quarter valued at $377,000. Finally, ABC Arbitrage SA purchased a new stake in shares of Clearway Energy during the 4th quarter valued at $325,000. Institutional investors and hedge funds own 84.53% of the company's stock.

Clearway Energy Price Performance

Shares of NYSE:CWEN traded up $0.38 during trading on Thursday, hitting $30.27. 782,342 shares of the company's stock were exchanged, compared to its average volume of 873,297. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy, Inc. has a 52-week low of $24.02 and a 52-week high of $31.09. The business's 50-day simple moving average is $29.22 and its 200 day simple moving average is $27.96. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 29.10, a PEG ratio of 1.75 and a beta of 0.89.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) 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 analyst estimates of $305.74 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned ($0.02) EPS. As a group, equities analysts predict that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.4384 per share. This represents a $1.75 annualized dividend and a yield of 5.79%. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date is Monday, June 2nd. Clearway Energy's payout ratio is 218.75%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CWEN shares. Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research note on Tuesday, March 25th. They set a "buy" rating and a $38.00 price target for the company. Wall Street Zen downgraded Clearway Energy from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Roth Mkm restated a "buy" rating and issued a $34.00 target price (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Clearway Energy currently has a consensus rating of "Moderate Buy" and an average target price of $35.50.

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.