Knights of Columbus Asset Advisors LLC Boosts Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

Knights of Columbus Asset Advisors LLC grew its stake in Clearway Energy, Inc. (NYSE:CWEN) by 94.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,994 shares of the company’s stock after purchasing an additional 72,910 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Clearway Energy were worth $4,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CWEN. 1832 Asset Management L.P. increased its stake in 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 acquiring an additional 767,961 shares during the last quarter. Candriam S.C.A. acquired a new stake in Clearway Energy during the first quarter worth $8,081,000. National Bank of Canada FI increased its stake in Clearway Energy by 751.9% during the third quarter. National Bank of Canada FI now owns 286,137 shares of the company’s stock worth $5,651,000 after acquiring an additional 252,548 shares during the last quarter. ClearBridge Investments Ltd increased its stake in Clearway Energy by 4.0% during the first quarter. ClearBridge Investments Ltd now owns 5,246,887 shares of the company’s stock worth $77,619,000 after acquiring an additional 204,217 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in Clearway Energy by 899.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 113,900 shares of the company’s stock worth $3,630,000 after acquiring an additional 102,500 shares during the last quarter. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Clearway Energy Trading Up 1.3 %

NYSE:CWEN opened at $22.79 on Friday. The firm has a market cap of $4.61 billion, a PE ratio of 33.51 and a beta of 0.88. The stock has a fifty day moving average price of $22.52 and a 200 day moving average price of $23.52. Clearway Energy, Inc. has a 12-month low of $18.59 and a 12-month high of $31.72. The company has a current ratio of 1.72, a quick ratio of 1.66 and a debt-to-equity ratio of 1.50.

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

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.403 dividend. The ex-dividend date of this dividend was Thursday, February 29th. 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 yield of 7.07%. Clearway Energy’s dividend payout ratio (DPR) is 236.76%.

Insider Activity at Clearway Energy

In other Clearway Energy news, Director Se Totalenergies purchased 196,964 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was bought at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the acquisition, the director now directly owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Clearway Energy 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.