Squarepoint Ops LLC Increases Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

Squarepoint Ops LLC raised its position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 88.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 189,238 shares of the company's stock after buying an additional 88,560 shares during the quarter. Squarepoint Ops LLC owned about 0.09% of Clearway Energy worth $4,920,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its stake in shares of Clearway Energy by 14.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 12,321 shares of the company's stock worth $320,000 after acquiring an additional 1,599 shares in the last quarter. abrdn plc boosted its stake in shares of Clearway Energy by 30.7% during the 4th quarter. abrdn plc now owns 602,700 shares of the company's stock worth $15,761,000 after acquiring an additional 141,500 shares in the last quarter. King Luther Capital Management Corp boosted its stake 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 acquiring an additional 525,450 shares in the last quarter. Simmons Bank bought a new stake in shares of Clearway Energy during the 4th quarter worth $377,000. Finally, ABC Arbitrage SA acquired a new stake in shares of Clearway Energy in the fourth quarter worth $325,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

Shares of CWEN stock traded up $0.20 on Friday, reaching $30.55. The stock had a trading volume of 156,374 shares, compared to its average volume of 874,089. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 29.35, a P/E/G ratio of 1.75 and a beta of 0.89. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a 12 month low of $24.02 and a 12 month high of $31.09. The firm's 50-day moving average is $29.21 and its two-hundred day moving average is $27.84.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.28. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. During the same quarter last year, the business posted ($0.02) EPS. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.4384 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.75 annualized dividend and a dividend yield of 5.74%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's dividend payout ratio is currently 218.75%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen raised Clearway Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 target price for the company. Finally, Roth Mkm reiterated a "buy" rating and set a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company 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.