Great Lakes Advisors LLC increased its stake in shares of Clearway Energy, Inc. (NYSE:CWEN – Free Report) by 29.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,502 shares of the company’s stock after acquiring an additional 2,180 shares during the quarter. Great Lakes Advisors LLC’s holdings in Clearway Energy were worth $298,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Householder Group Estate & Retirement Specialist LLC purchased a new position in Clearway Energy in the first quarter worth about $28,000. Van ECK Associates Corp increased its holdings in shares of Clearway Energy by 74.9% during the fourth quarter. Van ECK Associates Corp now owns 1,289 shares of the company’s stock valued at $41,000 after acquiring an additional 552 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Clearway Energy by 37.4% during the first quarter. National Bank of Canada FI now owns 1,470 shares of the company’s stock valued at $46,000 after acquiring an additional 400 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Clearway Energy during the fourth quarter valued at about $49,000. Finally, Benjamin Edwards Inc. increased its holdings in shares of Clearway Energy by 109.3% during the fourth quarter. Benjamin Edwards Inc. now owns 1,840 shares of the company’s stock valued at $59,000 after acquiring an additional 961 shares in the last quarter. 34.79% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Clearway Energy
In related news, CEO Christopher S. Sotos bought 4,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $23.68 per share, with a total value of $94,720.00. Following the completion of the acquisition, the chief executive officer now owns 31,100 shares in the company, valued at approximately $736,448. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.52% of the stock is owned by corporate insiders.
Clearway Energy Price Performance
Clearway Energy (NYSE:CWEN – Get Free Report) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.22). The firm had revenue of $406.00 million during the quarter, compared to analysts’ expectations of $375.59 million. Clearway Energy had a net margin of 6.30% and a return on equity of 2.00%. Clearway Energy’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($3.86) EPS. On average, sell-side analysts anticipate that Clearway Energy, Inc. will post 1.17 EPS for the current year.
Clearway Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.389 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.48%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.38. Clearway Energy’s payout ratio is 215.49%.
Analyst Ratings Changes
CWEN has been the topic of a number of research analyst reports. StockNews.com initiated coverage on shares of Clearway Energy in a report on Thursday, August 17th. They set a “hold” rating on the stock. TheStreet cut Clearway Energy from a “b-” rating to a “c” rating in a research note on Tuesday, August 8th. Finally, Oppenheimer reduced their price objective on Clearway Energy from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, August 9th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.
View Our Latest Report on CWEN
Clearway Energy Profile
Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional, Renewables, and Thermal segments. It has approximately 5,500 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities.
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