National Bank of Canada FI Has $948,000 Holdings in Clearway Energy, Inc. (NYSE:CWEN)

National Bank of Canada FI grew its stake in Clearway Energy, Inc. (NYSE:CWEN) by 1,778.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,907 shares of the company’s stock after purchasing an additional 29,262 shares during the period. National Bank of Canada FI’s holdings in Clearway Energy were worth $948,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hancock Whitney Corp acquired a new stake in Clearway Energy during the third quarter worth about $1,486,000. Edgestream Partners L.P. acquired a new stake in shares of Clearway Energy during the 2nd quarter worth approximately $3,643,000. 1832 Asset Management L.P. bought a new stake in shares of Clearway Energy during the second quarter valued at approximately $32,310,000. Entropy Technologies LP acquired a new position in shares of Clearway Energy in the third quarter valued at $1,026,000. Finally, The Manufacturers Life Insurance Company lifted its position 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 purchasing an additional 254,486 shares during the period. Institutional investors own 84.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CWEN shares. BNP Paribas began coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. CIBC raised their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. Finally, Jefferies Financial Group assumed coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.13.

Insider Transactions at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares in the company, valued at $218,011.22. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.52% of the stock is owned by company insiders.

Clearway Energy Stock Down 0.2 %

NYSE CWEN opened at $27.28 on Friday. The stock’s 50 day simple moving average is $27.83 and its 200 day simple moving average is $27.59. Clearway Energy, Inc. has a one year low of $20.63 and a one year high of $30.92. The firm has a market cap of $5.51 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same quarter in the previous year, the company posted $0.03 EPS. Clearway Energy’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, sell-side analysts forecast that Clearway Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.424 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase 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 6.22%. Clearway Energy’s payout ratio is currently 163.46%.

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.