Voloridge Investment Management LLC Has $12.24 Million Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Voloridge Investment Management LLC grew its position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 251.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 470,565 shares of the company's stock after acquiring an additional 336,668 shares during the quarter. Voloridge Investment Management LLC owned about 0.23% of Clearway Energy worth $12,235,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RWC Asset Management LLP boosted 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 worth $32,480,000 after buying an additional 642,322 shares during the period. King Luther Capital Management Corp boosted its position in shares of Clearway Energy by 2,840.3% in the fourth 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 period. Jupiter Asset Management Ltd. boosted its position in shares of Clearway Energy by 85.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock worth $13,932,000 after buying an additional 247,460 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in Clearway Energy by 7.1% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock valued at $72,772,000 after purchasing an additional 186,544 shares during the last quarter. Finally, abrdn plc grew its stake in Clearway Energy by 30.7% during the 4th quarter. abrdn plc now owns 602,700 shares of the company's stock valued at $15,761,000 after purchasing an additional 141,500 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CWEN has been the topic of several research analyst reports. Roth Mkm restated a "buy" rating and set a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. 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 price target on the stock. Finally, Wall Street Zen raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $35.50.

Clearway Energy Price Performance

Shares of NYSE:CWEN traded up $0.16 during midday trading on Friday, reaching $30.51. The company's stock had a trading volume of 181,658 shares, compared to its average volume of 874,190. The business's fifty day simple moving average is $29.21 and its 200-day simple moving average is $27.84. The company has a market capitalization of $6.17 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.75 and a beta of 0.89. 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 fifty-two week low of $24.02 and a fifty-two week high of $31.09.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating 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 analysts' expectations of $305.74 million. During the same period in the prior year, the firm earned ($0.02) earnings per share. Clearway Energy's revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.4384 dividend. This represents a $1.75 dividend on an annualized basis and a yield of 5.75%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. The ex-dividend date is Monday, June 2nd. Clearway Energy's dividend payout ratio (DPR) is presently 218.75%.

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.