Nisa Investment Advisors LLC Increases Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Nisa Investment Advisors LLC grew its stake in Clearway Energy, Inc. (NYSE:CWEN) by 79.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 17,455 shares of the company’s stock after buying an additional 7,750 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Clearway Energy were worth $528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. M&T Bank Corp lifted its stake in Clearway Energy by 75.8% during the first quarter. M&T Bank Corp now owns 25,225 shares of the company’s stock worth $764,000 after purchasing an additional 10,878 shares during the last quarter. Summit Trail Advisors LLC purchased a new stake in Clearway Energy during the first quarter worth approximately $218,000. Tsfg LLC purchased a new stake in Clearway Energy during the first quarter worth approximately $61,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Clearway Energy by 4.8% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 522,000 shares of the company’s stock worth $15,801,000 after purchasing an additional 24,000 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in Clearway Energy during the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CWEN shares. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. 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 objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Clearway Energy currently has a consensus rating of “Moderate Buy” and an average price target of $35.50.

Clearway Energy Trading Up 0.1%

NYSE:CWEN opened at $32.23 on Wednesday. The firm has a market cap of $6.52 billion, a P/E ratio of 40.29, a PEG ratio of 0.69 and a beta of 0.87. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33. The stock’s 50 day simple moving average is $31.00 and its 200-day simple moving average is $28.75. Clearway Energy, Inc. has a 12-month low of $24.40 and a 12-month high of $32.76.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.28. The business had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Equities analysts anticipate that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.4384 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.44%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.43. Clearway Energy’s payout ratio is presently 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.