Envestnet Asset Management Inc. increased its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN – Get Rating) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,199 shares of the company’s stock after acquiring an additional 4,397 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Clearway Energy were worth $1,157,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of CWEN. Commonwealth Equity Services LLC raised its stake in Clearway Energy by 10.8% during the first quarter. Commonwealth Equity Services LLC now owns 7,242 shares of the company’s stock worth $264,000 after acquiring an additional 708 shares during the period. Victory Capital Management Inc. grew its position in Clearway Energy by 191.5% in the 1st quarter. Victory Capital Management Inc. now owns 34,748 shares of the company’s stock worth $1,061,000 after purchasing an additional 22,827 shares during the last quarter. Prospera Financial Services Inc bought a new position in Clearway Energy in the 1st quarter worth about $50,000. Occidental Asset Management LLC grew its position in Clearway Energy by 1.6% in the 1st quarter. Occidental Asset Management LLC now owns 68,582 shares of the company’s stock worth $2,504,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA bought a new position in Clearway Energy in the 1st quarter worth about $7,715,000. Institutional investors and hedge funds own 57.10% of the company’s stock.
In related news, CEO Christopher S. Sotos sold 30,000 shares of the stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.55% of the company’s stock.
Wall Street Analysts Forecast Growth
Clearway Energy Trading Up 2.2 %
Clearway Energy stock opened at $36.06 on Wednesday. The firm has a 50 day simple moving average of $34.27 and a 200-day simple moving average of $35.21. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.84 and a quick ratio of 1.78. The stock has a market capitalization of $7.28 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 2.05 and a beta of 0.71. Clearway Energy, Inc. has a 12-month low of $29.61 and a 12-month high of $41.79.
Clearway Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be issued a $0.367 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This is a boost from Clearway Energy’s previous quarterly dividend of $0.36. This represents a $1.47 annualized dividend and a dividend yield of 4.07%. Clearway Energy’s dividend payout ratio (DPR) is 29.88%.
Clearway Energy Profile
Clearway Energy, Inc operates in the renewable energy business in the United States. It has approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities. The company was formerly known as NRG Yield, Inc and changed its name to Clearway Energy, Inc in August 2018.
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