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

Hancock Whitney Corp purchased a new stake in Clearway Energy, Inc. (NYSE:CWEN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 48,420 shares of the company’s stock, valued at approximately $1,486,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. 1832 Asset Management L.P. purchased a new stake in shares of Clearway Energy in the 2nd quarter worth about $32,310,000. Point72 Asset Management L.P. raised its stake in Clearway Energy by 60.9% in the second quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock worth $25,106,000 after buying an additional 384,837 shares in the last quarter. Yaupon Capital Management LP purchased a new stake in Clearway Energy in the first quarter worth about $7,346,000. The Manufacturers Life Insurance Company lifted its holdings in Clearway Energy by 144.8% in the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after buying an additional 254,486 shares during the period. Finally, HITE Hedge Asset Management LLC boosted its position in Clearway Energy by 130.7% during the 2nd quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company’s stock valued at $6,722,000 after acquiring an additional 154,239 shares in the last quarter. 38.03% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Stock Up 1.3 %

Clearway Energy stock opened at $28.72 on Tuesday. Clearway Energy, Inc. has a 12 month low of $20.63 and a 12 month high of $30.92. The stock has a fifty day simple moving average of $28.21 and a two-hundred day simple moving average of $27.42. 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 has a market cap of $5.81 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 2.51 and a beta of 0.87.

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

Clearway Energy Increases Dividend

The business also recently disclosed 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 represents a $1.70 annualized dividend and a dividend yield of 5.91%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. Clearway Energy’s payout ratio is presently 160.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CWEN. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group began coverage on Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. Roth Mkm restated a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $25.00 to $36.00 in a research report on Wednesday, July 31st. Finally, BNP Paribas began coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Clearway Energy has an average rating of “Moderate Buy” and a consensus price target of $33.13.

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.