King Luther Capital Management Corp Purchases 525,450 Shares of Clearway Energy, Inc. (NYSE:CWEN)

King Luther Capital Management Corp grew its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 2,840.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 543,950 shares of the company’s stock after purchasing an additional 525,450 shares during the quarter. King Luther Capital Management Corp’s holdings in Clearway Energy were worth $14,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CWEN. CIBC Asset Management Inc increased its holdings in Clearway Energy by 4.8% in the fourth quarter. CIBC Asset Management Inc now owns 9,074 shares of the company’s stock valued at $236,000 after purchasing an additional 414 shares during the period. Ballentine Partners LLC increased its stake in shares of Clearway Energy by 5.2% in the fourth quarter. Ballentine Partners LLC now owns 15,916 shares of the company’s stock valued at $414,000 after buying an additional 787 shares during the period. Quad Cities Investment Group LLC raised its position in shares of Clearway Energy by 7.6% during the fourth quarter. Quad Cities Investment Group LLC now owns 12,602 shares of the company’s stock worth $328,000 after acquiring an additional 886 shares during the last quarter. Quarry LP lifted its stake in shares of Clearway Energy by 51.6% in the third quarter. Quarry LP now owns 3,671 shares of the company’s stock worth $113,000 after acquiring an additional 1,249 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in Clearway Energy by 13.3% in the third quarter. Oppenheimer & Co. Inc. now owns 10,722 shares of the company’s stock valued at $329,000 after acquiring an additional 1,260 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CWEN. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Roth Mkm reissued a “buy” rating and set a $34.00 target price (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Clearway Energy currently has an average rating of “Moderate Buy” and an average target price of $34.17.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $28.77 on Wednesday. The firm has a 50 day moving average of $26.31 and a 200-day moving average of $27.45. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a 52 week low of $20.63 and a 52 week high of $30.92.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $256.00 million during the quarter, compared to analyst estimates of $299.73 million. On average, equities analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.4312 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.99%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 3rd. Clearway Energy’s payout ratio is presently 229.33%.

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.