Magnetar Financial LLC Makes New Investment in Clearway Energy, Inc. (NYSE:CWEN)

Magnetar Financial LLC acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN) during the fourth quarter, HoldingsChannel reports. The firm acquired 10,970 shares of the company’s stock, valued at approximately $285,000.

Other large investors have also modified their holdings of the company. Mascoma Wealth Management LLC bought a new position in Clearway Energy during the fourth quarter worth about $28,000. SBI Securities Co. Ltd. acquired a new position in shares of Clearway Energy in the 4th quarter worth approximately $51,000. Wilmington Savings Fund Society FSB bought a new position in shares of Clearway Energy during the 3rd quarter worth approximately $71,000. Icon Wealth Advisors LLC acquired a new stake in Clearway Energy in the 3rd quarter valued at $106,000. Finally, Quarry LP grew its position in Clearway Energy by 51.6% in the third quarter. Quarry LP now owns 3,671 shares of the company’s stock valued at $113,000 after acquiring an additional 1,249 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Down 0.6 %

Shares of NYSE CWEN opened at $29.86 on Monday. Clearway Energy, Inc. has a 12-month low of $21.34 and a 12-month high of $30.92. The firm’s 50-day simple moving average is $26.94 and its 200 day simple moving average is $27.50. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 28.71, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The company had revenue of $256.00 million for the quarter, compared to analyst estimates of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. On average, research analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.4312 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.78%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, March 3rd. Clearway Energy’s dividend payout ratio (DPR) is presently 229.33%.

Analyst Upgrades and Downgrades

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

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.