CIBC Asset Management Inc Purchases 414 Shares of Clearway Energy, Inc. (NYSE:CWEN)

CIBC Asset Management Inc grew its position in Clearway Energy, Inc. (NYSE:CWEN) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,074 shares of the company’s stock after purchasing an additional 414 shares during the quarter. CIBC Asset Management Inc’s holdings in Clearway Energy were worth $236,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Creative Planning lifted its stake in Clearway Energy by 23.5% in the third quarter. Creative Planning now owns 16,450 shares of the company’s stock valued at $505,000 after buying an additional 3,134 shares during the period. Nisa Investment Advisors LLC lifted its stake in Clearway Energy by 11.8% in the third quarter. Nisa Investment Advisors LLC now owns 20,890 shares of the company’s stock valued at $641,000 after buying an additional 2,200 shares during the period. abrdn plc lifted its stake in Clearway Energy by 8.7% in the third quarter. abrdn plc now owns 461,200 shares of the company’s stock valued at $14,150,000 after buying an additional 37,100 shares during the period. Congress Asset Management Co. lifted its stake in Clearway Energy by 0.4% in the third quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock valued at $5,806,000 after buying an additional 699 shares during the period. Finally, James Investment Research Inc. bought a new stake in Clearway Energy in the 3rd quarter valued at about $230,000. 84.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on CWEN shares. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. Roth Mkm reiterated a “buy” rating and set a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and a consensus target price of $32.86.

Insider Activity at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the sale, the director now directly owns 8,153 shares in the company, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.

Clearway Energy Price Performance

CWEN opened at $27.32 on Wednesday. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. 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 company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 1.75 and a beta of 0.88. The firm’s fifty day moving average price is $26.07 and its two-hundred day moving average price is $27.53.

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

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.4312 dividend. The ex-dividend date is Monday, March 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.31%. Clearway Energy’s dividend payout ratio is currently 165.38%.

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.