Frank Rimerman Advisors LLC Grows Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Frank Rimerman Advisors LLC raised its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 132.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,598 shares of the company’s stock after purchasing an additional 8,881 shares during the period. Frank Rimerman Advisors LLC’s holdings in Clearway Energy were worth $406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. RWC Asset Management LLP lifted its holdings in shares of Clearway Energy by 105.8% in the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company’s stock valued at $32,480,000 after purchasing an additional 642,322 shares in the last quarter. abrdn plc lifted its holdings 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 purchasing an additional 141,500 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Clearway Energy by 2,840.3% in the fourth quarter. King Luther Capital Management Corp now owns 543,950 shares of the company’s stock valued at $14,143,000 after purchasing an additional 525,450 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Clearway Energy by 85.8% in the fourth quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company’s stock valued at $13,932,000 after purchasing an additional 247,460 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of Clearway Energy by 4.6% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $29.14 on Monday. Clearway Energy, Inc. has a one year low of $20.79 and a one year high of $30.92. 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 50 day moving average price of $26.54 and a 200 day moving average price of $27.46. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92.

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

Clearway Energy Increases Dividend

The business also recently declared 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 is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.72 annualized dividend and a yield of 5.92%. Clearway Energy’s dividend payout ratio is 229.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.17.

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.