D. E. Shaw & Co. Inc. Increases Holdings in Clearway Energy, Inc. (NYSE:CWEN)

D. E. Shaw & Co. Inc. grew its stake in Clearway Energy, Inc. (NYSE:CWEN) by 358.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,909 shares of the company’s stock after acquiring an additional 37,461 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Clearway Energy were worth $1,246,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mascoma Wealth Management LLC purchased a new position in shares of Clearway Energy in the 4th quarter worth about $28,000. New Age Alpha Advisors LLC bought a new stake in Clearway Energy during the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new position in Clearway Energy in the fourth quarter worth about $51,000. Quarry LP raised its holdings in Clearway Energy by 48.6% in the fourth quarter. Quarry LP now owns 5,454 shares of the company’s stock worth $142,000 after buying an additional 1,783 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of Clearway Energy by 233.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 6,885 shares of the company’s stock worth $179,000 after buying an additional 4,823 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research note on Tuesday, March 25th. They issued a “buy” rating and a $38.00 price target for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.50.

Clearway Energy Stock Down 2.5%

Shares of Clearway Energy stock opened at $29.25 on Friday. Clearway Energy, Inc. has a twelve month low of $24.02 and a twelve month high of $31.09. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average is $29.13 and its 200 day moving average is $27.75. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.28. The firm had revenue of $298.00 million for the quarter, compared to analysts’ expectations of $305.74 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. Research analysts anticipate that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.4384 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a yield of 6.00%. Clearway Energy’s dividend payout ratio is currently 218.75%.

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.