48,420 Shares in Clearway Energy, Inc. (NYSE:CWEN) Acquired by Hancock Whitney Corp

Hancock Whitney Corp acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 48,420 shares of the company’s stock, valued at approximately $1,486,000.

A number of other hedge funds have also recently added to or reduced their stakes in CWEN. Abich Financial Wealth Management LLC increased its stake in shares of Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. lifted its holdings in shares of Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Clearway Energy during the third quarter worth $50,000. Quarry LP grew its stake in shares of Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in Clearway Energy by 34.0% in the third quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock valued at $206,000 after purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CWEN. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. BNP Paribas assumed coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target for the company. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $36.00 in a research report on Wednesday, July 31st. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, CIBC increased their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.13.

Clearway Energy Stock Performance

Clearway Energy stock opened at $28.72 on Tuesday. The firm has a market capitalization of $5.81 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The firm’s 50 day simple moving average is $28.21 and its 200 day simple moving average is $27.42. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The firm had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.03 earnings per share. As a group, analysts expect that Clearway Energy, Inc. will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.91%. The ex-dividend date is Monday, December 2nd. Clearway Energy’s dividend payout ratio is currently 160.58%.

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.