Raymond James Financial Services Advisors Inc. raised its position in shares of Clearway Energy, Inc. (NYSE:CWEN – Get Rating) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 55,789 shares of the company’s stock after buying an additional 1,197 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Clearway Energy were worth $1,778,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ClearBridge Investments Ltd lifted its position in Clearway Energy by 4.0% during the first quarter. ClearBridge Investments Ltd now owns 5,246,887 shares of the company’s stock valued at $77,619,000 after purchasing an additional 204,217 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in shares of Clearway Energy by 1.6% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 2,790,454 shares of the company’s stock valued at $88,875,000 after acquiring an additional 45,002 shares during the period. 1832 Asset Management L.P. increased its holdings in Clearway Energy by 7.1% in the 1st quarter. 1832 Asset Management L.P. now owns 1,595,041 shares of the company’s stock worth $57,434,000 after acquiring an additional 106,426 shares in the last quarter. Eventide Asset Management LLC raised its stake in Clearway Energy by 35.5% during the 3rd quarter. Eventide Asset Management LLC now owns 1,141,486 shares of the company’s stock worth $36,356,000 after acquiring an additional 299,086 shares during the period. Finally, Electron Capital Partners LLC lifted its holdings in Clearway Energy by 7.1% during the third quarter. Electron Capital Partners LLC now owns 861,164 shares of the company’s stock valued at $27,428,000 after purchasing an additional 57,258 shares in the last quarter. Hedge funds and other institutional investors own 77.98% of the company’s stock.
Insider Buying and Selling
In other news, Director Infrastructure Investor Global acquired 71,980 shares of the firm’s stock in a transaction dated Friday, March 31st. The shares were acquired at an average cost of $31.15 per share, with a total value of $2,242,177.00. Following the acquisition, the director now directly owns 172,601 shares of the company’s stock, valued at $5,376,521.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.52% of the stock is owned by company insiders.
Clearway Energy Trading Down 1.1 %
Clearway Energy (NYSE:CWEN – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.98. The company had revenue of $268.00 million for the quarter, compared to the consensus estimate of $313.21 million. Clearway Energy had a net margin of 48.58% and a negative return on equity of 9.85%. On average, equities analysts predict that Clearway Energy, Inc. will post 1.7 earnings per share for the current fiscal year.
Clearway Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.382 dividend. This represents a $1.53 annualized dividend and a dividend yield of 5.22%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, May 31st. Clearway Energy’s payout ratio is 28.46%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on CWEN shares. Oppenheimer reduced their price objective on shares of Clearway Energy from $41.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, February 24th. StockNews.com assumed coverage on Clearway Energy in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.75.
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.
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