M&T Bank Corp Increases Holdings in Clearway Energy, Inc. (NYSE:CWEN)

M&T Bank Corp increased its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 75.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,225 shares of the company's stock after acquiring an additional 10,878 shares during the period. M&T Bank Corp's holdings in Clearway Energy were worth $764,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Frank Rimerman Advisors LLC raised its stake in Clearway Energy by 132.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 15,598 shares of the company's stock valued at $406,000 after buying an additional 8,881 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Clearway Energy in the 4th quarter valued at approximately $285,000. Northwest & Ethical Investments L.P. boosted its holdings in 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 purchasing an additional 14,296 shares in the last quarter. Quantbot Technologies LP boosted its holdings in Clearway Energy by 206.7% in the 4th quarter. Quantbot Technologies LP now owns 54,297 shares of the company's stock valued at $1,412,000 after purchasing an additional 36,592 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Clearway Energy in the 4th quarter valued at approximately $248,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Trading Down 0.5%

Shares of CWEN stock traded down $0.17 on Wednesday, reaching $32.08. 745,758 shares of the stock were exchanged, compared to its average volume of 882,501. The stock has a market cap of $6.49 billion, a P/E ratio of 40.10, a price-to-earnings-growth ratio of 0.69 and a beta of 0.87. 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 firm has a 50 day moving average of $31.07 and a two-hundred day moving average of $28.78. Clearway Energy, Inc. has a 1-year low of $24.40 and a 1-year high of $33.02.

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. 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 analysts' expectations of $305.74 million. During the same period in the prior year, the company earned ($0.02) EPS. The firm's revenue was up 13.3% on a year-over-year basis. On average, research analysts anticipate that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.4384 per share. This represents a $1.75 dividend on an annualized basis and a yield of 5.47%. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date was Monday, June 2nd. Clearway Energy's dividend payout ratio is 218.75%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CWEN. Wall Street Zen raised Clearway Energy from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft began coverage on Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Clearway Energy has a consensus rating of "Moderate Buy" and a consensus target price 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.