Knights of Columbus Asset Advisors LLC Grows Stake in Clearway Energy, Inc. (NYSE:CWEN)

Knights of Columbus Asset Advisors LLC increased its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 94.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,994 shares of the company’s stock after purchasing an additional 72,910 shares during the quarter. Knights of Columbus Asset Advisors LLC owned approximately 0.07% of Clearway Energy worth $4,114,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CWEN. 1832 Asset Management L.P. grew its position in shares of Clearway Energy by 49.2% during the first quarter. 1832 Asset Management L.P. now owns 2,328,073 shares of the company’s stock worth $72,939,000 after purchasing an additional 767,961 shares in the last quarter. Candriam S.C.A. purchased a new position in Clearway Energy during the 1st quarter valued at approximately $8,081,000. National Bank of Canada FI grew its holdings in Clearway Energy by 751.9% during the 3rd quarter. National Bank of Canada FI now owns 286,137 shares of the company’s stock valued at $5,651,000 after buying an additional 252,548 shares in the last quarter. ClearBridge Investments Ltd grew its holdings in Clearway Energy by 4.0% during the 1st quarter. ClearBridge Investments Ltd now owns 5,246,887 shares of the company’s stock valued at $77,619,000 after buying an additional 204,217 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Clearway Energy by 899.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 113,900 shares of the company’s stock valued at $3,630,000 after buying an additional 102,500 shares in the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

NYSE:CWEN opened at $22.79 on Friday. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 33.51 and a beta of 0.88. Clearway Energy, Inc. has a 1 year low of $18.59 and a 1 year high of $31.72. The business has a 50 day simple moving average of $22.52 and a 200-day simple moving average of $23.52. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.72 and a quick ratio of 1.66.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.15. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The firm had revenue of $249.00 million during the quarter, compared to analyst estimates of $282.45 million. During the same period last year, the company earned $0.10 EPS. Clearway Energy’s quarterly revenue was down 18.4% compared to the same quarter last year. Equities analysts forecast that Clearway Energy, Inc. will post 0.92 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.403 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.61 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date of this dividend was Thursday, February 29th. Clearway Energy’s dividend payout ratio (DPR) is currently 236.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a report on Tuesday, March 26th. Morgan Stanley raised their price target on Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Royal Bank of Canada cut their price target on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Oppenheimer raised their price target on Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Finally, StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.33.

Insider Buying and Selling

In other Clearway Energy news, Director Se Totalenergies purchased 196,964 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the purchase, the director now owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by corporate insiders.

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.