ING Groep NV Purchases 69,950 Shares of Clearway Energy, Inc. (NYSE:CWEN)

ING Groep NV increased its position in Clearway Energy, Inc. (NYSE:CWEN) by 938.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,400 shares of the company’s stock after buying an additional 69,950 shares during the quarter. ING Groep NV’s holdings in Clearway Energy were worth $2,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CWEN. abrdn plc raised its stake in shares of Clearway Energy by 30.7% during the fourth quarter. abrdn plc now owns 602,700 shares of the company’s stock worth $15,761,000 after acquiring an additional 141,500 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of Clearway Energy by 4.6% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 498,000 shares of the company’s stock valued at $12,948,000 after purchasing an additional 22,000 shares during the last quarter. Yaupon Capital Management LP raised its position in Clearway Energy by 209.3% in the 3rd quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock worth $9,991,000 after purchasing an additional 220,360 shares during the period. Congress Asset Management Co. lifted its stake in Clearway Energy by 6.7% in the fourth quarter. Congress Asset Management Co. now owns 201,876 shares of the company’s stock worth $5,249,000 after purchasing an additional 12,640 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Clearway Energy in the third quarter worth $3,532,000. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Price Performance

CWEN stock opened at $27.42 on Monday. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.75 and a beta of 0.88. The firm’s 50-day moving average price is $26.05 and its two-hundred day moving average price is $27.55. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a 12-month low of $20.63 and a 12-month high of $30.92.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.4312 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date is Monday, March 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is currently 163.46%.

Insider Activity at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.57.

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.