Oak Thistle LLC Increases Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

Oak Thistle LLC boosted its position in Clearway Energy, Inc. (NYSE:CWEN) by 46.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,664 shares of the company’s stock after acquiring an additional 14,502 shares during the quarter. Oak Thistle LLC’s holdings in Clearway Energy were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. 1832 Asset Management L.P. bought a new stake in shares of Clearway Energy in the second quarter worth $32,310,000. Point72 Asset Management L.P. lifted its position in shares of Clearway Energy by 60.9% during the second quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock worth $25,106,000 after purchasing an additional 384,837 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Clearway Energy by 144.8% in the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after purchasing an additional 254,486 shares in the last quarter. Yaupon Capital Management LP increased its holdings in Clearway Energy by 209.3% in the third quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock valued at $9,991,000 after buying an additional 220,360 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its stake in Clearway Energy by 130.7% during the second quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company’s stock valued at $6,722,000 after buying an additional 154,239 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares of the company’s stock, valued at $218,011.22. This trade represents a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.

Clearway Energy Stock Up 1.0 %

CWEN opened at $25.07 on Wednesday. The stock’s 50 day moving average price is $27.28 and its 200 day moving average price is $27.50. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The stock has a market cap of $5.07 billion, a P/E ratio of 24.11, a P/E/G ratio of 1.24 and a beta of 0.88. Clearway Energy, Inc. has a 12 month low of $20.63 and a 12 month high of $30.92.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Clearway Energy’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.03 earnings per share. As a group, research analysts predict that Clearway Energy, Inc. will post 0.82 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.424 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date was Monday, December 2nd. Clearway Energy’s dividend payout ratio is currently 162.50%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. CIBC lifted their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 target price for the company. BNP Paribas began coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target on the stock. Finally, StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.13.

About Clearway Energy

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.