King Luther Capital Management Corp Has $14.14 Million Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

King Luther Capital Management Corp grew its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 2,840.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 543,950 shares of the company’s stock after buying an additional 525,450 shares during the period. King Luther Capital Management Corp owned approximately 0.27% of Clearway Energy worth $14,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in Clearway Energy during the third quarter worth about $3,532,000. Hancock Whitney Corp acquired a new position in shares of Clearway Energy during the 3rd quarter worth approximately $1,486,000. National Bank of Canada FI increased its holdings in shares of Clearway Energy by 1,778.8% during the third quarter. National Bank of Canada FI now owns 30,907 shares of the company’s stock worth $948,000 after purchasing an additional 29,262 shares during the period. abrdn plc raised its position in shares of Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company’s stock valued at $15,761,000 after buying an additional 141,500 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of Clearway Energy by 14.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 12,321 shares of the company’s stock valued at $320,000 after buying an additional 1,599 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Trading Up 0.5 %

Shares of CWEN stock opened at $28.77 on Wednesday. Clearway Energy, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The stock’s fifty day moving average price is $26.31 and its two-hundred day moving average price is $27.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The company has a market cap of $5.82 billion, a PE ratio of 27.67, a P/E/G ratio of 1.75 and a beta of 0.92.

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

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.4312 per share. This represents a $1.72 dividend on an annualized basis and a yield of 5.99%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 3rd. Clearway Energy’s dividend payout ratio is currently 229.33%.

Wall Street Analysts Forecast Growth

CWEN has been the topic of a number of recent research reports. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. 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 research report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.