Voloridge Investment Management LLC Raises Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

Voloridge Investment Management LLC grew its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 251.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 470,565 shares of the company’s stock after acquiring an additional 336,668 shares during the period. Voloridge Investment Management LLC’s holdings in Clearway Energy were worth $12,235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Squarepoint Ops LLC boosted its stake in shares of Clearway Energy by 88.0% during the 4th quarter. Squarepoint Ops LLC now owns 189,238 shares of the company’s stock worth $4,920,000 after purchasing an additional 88,560 shares during the period. Teza Capital Management LLC bought a new stake in shares of Clearway Energy in the 4th quarter valued at about $711,000. Point72 Hong Kong Ltd bought a new stake in shares of Clearway Energy in the 4th quarter valued at about $166,000. Man Group plc raised its holdings in shares of Clearway Energy by 66.6% in the 4th quarter. Man Group plc now owns 106,547 shares of the company’s stock valued at $2,770,000 after purchasing an additional 42,606 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Clearway Energy by 16.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,546 shares of the company’s stock valued at $820,000 after purchasing an additional 4,340 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Trading Up 4.1%

NYSE CWEN opened at $30.50 on Friday. 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 firm has a market cap of $6.17 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. The company has a 50 day moving average price of $29.15 and a 200 day moving average price of $27.77. Clearway Energy, Inc. has a 52 week low of $24.02 and a 52 week high of $31.09.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.25) by $0.28. The firm had revenue of $298.00 million during the quarter, compared to analyst estimates of $305.74 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Clearway Energy’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.02) EPS. As a group, sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.4384 per share. This is a positive change 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 5.75%. Clearway Energy’s dividend payout ratio is presently 218.75%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CWEN. Roth Mkm restated a “buy” rating and issued a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Clearway Energy Company 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.