Victory Capital Management Inc. Acquires 6,879 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Victory Capital Management Inc. boosted its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 175,202 shares of the company’s stock after purchasing an additional 6,879 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of Clearway Energy worth $4,555,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. 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 worth $236,000 after purchasing an additional 414 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Clearway Energy by 5.2% during the fourth quarter. Ballentine Partners LLC now owns 15,916 shares of the company’s stock valued at $414,000 after acquiring an additional 787 shares in the last quarter. Quad Cities Investment Group LLC increased its holdings 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 valued at $328,000 after acquiring an additional 886 shares in the last quarter. Quarry LP increased its holdings in shares of Clearway Energy by 51.6% during the third quarter. Quarry LP now owns 3,671 shares of the company’s stock valued at $113,000 after acquiring an additional 1,249 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Clearway Energy by 13.3% during 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 in the last quarter. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Stock Down 0.1 %

Shares of NYSE:CWEN opened at $29.14 on Friday. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 28.02, a PEG 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 12-month low of $20.79 and a 12-month high of $30.92. The business’s 50 day moving average is $26.54 and its 200 day moving average is $27.47.

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

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.4312 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.72 annualized dividend and a yield of 5.92%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is currently 229.33%.

Analysts Set New Price Targets

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

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.