CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys 22,000 Shares of Clearway Energy, Inc. (NYSE:CWEN)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Clearway Energy, Inc. (NYSE:CWEN) by 4.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 498,000 shares of the company’s stock after buying an additional 22,000 shares during the period. Clearway Energy makes up approximately 0.9% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 26th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Clearway Energy were worth $12,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CWEN. Ballentine Partners LLC increased its stake in Clearway Energy by 5.2% in the 4th quarter. Ballentine Partners LLC now owns 15,916 shares of the company’s stock worth $414,000 after purchasing an additional 787 shares during the period. San Luis Wealth Advisors LLC purchased a new position in shares of Clearway Energy in the fourth quarter worth $769,000. Oak Thistle LLC raised its holdings in Clearway Energy by 46.5% during the 4th quarter. Oak Thistle LLC now owns 45,664 shares of the company’s stock valued at $1,187,000 after buying an additional 14,502 shares during the last quarter. Quad Cities Investment Group LLC raised its holdings in Clearway Energy by 7.6% during the 4th quarter. Quad Cities Investment Group LLC now owns 12,602 shares of the company’s stock valued at $328,000 after buying an additional 886 shares during the last quarter. Finally, Fulton Bank N.A. grew its holdings in Clearway Energy by 14.8% in the 4th quarter. Fulton Bank N.A. now owns 14,007 shares of the company’s stock worth $364,000 after acquiring an additional 1,801 shares during the last quarter. Institutional investors own 84.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 8,153 shares of the company’s stock, valued at $218,011.22. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CWEN. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. BNP Paribas assumed coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target for the company. Finally, CIBC lifted their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Clearway Energy has an average rating of “Moderate Buy” and an average price target of $32.57.

Clearway Energy Stock Up 2.3 %

CWEN stock opened at $25.86 on Friday. Clearway Energy, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88. The business’s 50 day moving average price is $26.95 and its two-hundred day moving average price is $27.54. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). The firm had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, analysts forecast that Clearway Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.424 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date of this dividend was Monday, December 2nd. Clearway Energy’s dividend payout ratio (DPR) is 163.46%.

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.