Daiwa Securities Group Inc. lifted its position in shares of Clearway Energy, Inc. (NYSE:CWEN - Get Rating) by 36.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 21,700 shares of the company's stock after acquiring an additional 5,800 shares during the period. Daiwa Securities Group Inc.'s holdings in Clearway Energy were worth $691,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of the company. ClearBridge Investments Ltd grew its position in shares of Clearway Energy by 49.5% during the second quarter. ClearBridge Investments Ltd now owns 7,841,573 shares of the company's stock worth $273,200,000 after acquiring an additional 2,594,686 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in Clearway Energy by 4.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 2,745,452 shares of the company's stock worth $95,651,000 after purchasing an additional 113,077 shares during the period. 1832 Asset Management L.P. lifted its holdings in Clearway Energy by 7.1% in the first quarter. 1832 Asset Management L.P. now owns 1,595,041 shares of the company's stock worth $57,434,000 after purchasing an additional 106,426 shares during the period. Jennison Associates LLC acquired a new stake in Clearway Energy in the second quarter worth about $36,957,000. Finally, Beach Investment Counsel Inc. PA lifted its holdings in Clearway Energy by 30.4% in the third quarter. Beach Investment Counsel Inc. PA now owns 276,475 shares of the company's stock worth $8,806,000 after purchasing an additional 64,440 shares during the period. Institutional investors own 77.98% of the company's stock.
Clearway Energy Price Performance
Shares of NYSE CWEN opened at $33.49 on Wednesday. Clearway Energy, Inc. has a twelve month low of $29.61 and a twelve month high of $41.79. The company has a current ratio of 1.84, a quick ratio of 1.78 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 6.95, a PEG ratio of 2.44 and a beta of 0.73. The firm has a 50-day moving average of $33.63 and a two-hundred day moving average of $35.02.
Clearway Energy (NYSE:CWEN - Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.15. Clearway Energy had a net margin of 45.32% and a negative return on equity of 12.43%. The company had revenue of $340.00 million during the quarter, compared to the consensus estimate of $358.35 million. As a group, analysts expect that Clearway Energy, Inc. will post 0.94 earnings per share for the current fiscal year.
Clearway Energy Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were paid a dividend of $0.367 per share. The ex-dividend date of this dividend was Wednesday, November 30th. This is a positive change from Clearway Energy's previous quarterly dividend of $0.36. This represents a $1.47 dividend on an annualized basis and a yield of 4.38%. Clearway Energy's dividend payout ratio is currently 30.50%.
Insider Buying and Selling at Clearway Energy
In other Clearway Energy news, CEO Christopher S. Sotos sold 30,000 shares of the company's stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $35.23, for a total transaction of $1,056,900.00. Following the completion of the sale, the chief executive officer now directly owns 266,704 shares of the company's stock, valued at $9,395,981.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of Clearway Energy in a report on Wednesday, October 12th. They issued a "hold" rating for the company. CIBC raised shares of Clearway Energy from a "neutral" rating to an "outperform" rating in a report on Tuesday, January 10th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Clearway Energy currently has an average rating of "Moderate Buy" and a consensus price target of $37.00.
Clearway Energy Company Profile
Clearway Energy, Inc engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It operates through the following segments: Conventional Generation, Thermal, Renewable, and Corporate. The Renewable segment include solar and wind business.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to firstname.lastname@example.org.
Before you consider Clearway Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Clearway Energy wasn't on the list.
While Clearway Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.Get This Free Report