Clearway Energy, Inc. (NYSE:CWEN) Stock Position Lifted by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. grew its holdings in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,798,918 shares of the company's stock after acquiring an additional 186,544 shares during the quarter. Clearway Energy comprises 0.9% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 20th biggest holding. Tortoise Capital Advisors L.L.C. owned about 1.38% of Clearway Energy worth $72,772,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. RWC Asset Management LLP lifted its position in Clearway Energy by 105.8% in the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock valued at $32,480,000 after acquiring an additional 642,322 shares during the last quarter. abrdn plc lifted its holdings in shares of 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 purchasing an additional 141,500 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of 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 during the last quarter. King Luther Capital Management Corp grew its stake in 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 buying an additional 525,450 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in shares of Clearway Energy by 85.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock worth $13,932,000 after acquiring an additional 247,460 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

Analyst Upgrades and Downgrades

CWEN has been the subject of a number of analyst reports. StockNews.com upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target on the stock. Finally, Roth Mkm restated a "buy" rating and issued a $34.00 target price (up from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.71.

Clearway Energy Stock Up 0.7 %

NYSE:CWEN traded up $0.20 during mid-day trading on Friday, reaching $28.92. The stock had a trading volume of 211,642 shares, compared to its average volume of 977,599. The stock's 50 day simple moving average is $28.53 and its two-hundred day simple moving average is $27.48. Clearway Energy, Inc. has a 1-year low of $22.75 and a 1-year high of $31.09. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. 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 (NYSE:CWEN - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.10). The business had revenue of $256.00 million during the quarter, compared to analyst estimates of $299.73 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Equities analysts anticipate that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.4312 per share. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.72 annualized dividend and a dividend yield of 5.96%. Clearway Energy's payout ratio is 229.33%.

Clearway Energy Company 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.