Mutual of America Capital Management LLC Invests $396,000 in Clearway Energy, Inc. (NYSE:CWEN)

Mutual of America Capital Management LLC bought a new position in Clearway Energy, Inc. (NYSE:CWEN) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 14,420 shares of the company’s stock, valued at approximately $396,000.

Several other institutional investors have also recently made changes to their positions in CWEN. Bank of Nova Scotia bought a new stake in shares of Clearway Energy in the 3rd quarter worth $2,100,000. Victory Capital Management Inc. grew its stake in shares of Clearway Energy by 12.8% in the 3rd quarter. Victory Capital Management Inc. now owns 618,180 shares of the company’s stock worth $13,081,000 after acquiring an additional 70,351 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Clearway Energy by 8.9% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 832,538 shares of the company’s stock worth $17,617,000 after acquiring an additional 68,023 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of Clearway Energy in the 3rd quarter worth $1,001,000. Finally, Aigen Investment Management LP grew its position in Clearway Energy by 289.0% during the third quarter. Aigen Investment Management LP now owns 44,041 shares of the company’s stock valued at $932,000 after buying an additional 32,720 shares during the period. Institutional investors own 38.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CWEN shares. Morgan Stanley increased their price target on shares of Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. Oppenheimer increased their price target on shares of Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Finally, Royal Bank of Canada cut their target price on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Clearway Energy currently has a consensus rating of “Hold” and an average target price of $28.33.

Clearway Energy Trading Up 2.3 %

Shares of Clearway Energy stock opened at $23.59 on Wednesday. Clearway Energy, Inc. has a 12-month low of $18.59 and a 12-month high of $31.72. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 34.69 and a beta of 0.87. The company has a current ratio of 1.72, a quick ratio of 1.66 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $22.51 and its 200-day moving average price is $23.58.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.15. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The firm had revenue of $249.00 million for the quarter, compared to the consensus estimate of $282.45 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The company’s revenue for the quarter was down 18.4% on a year-over-year basis. On average, equities analysts expect that Clearway Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.403 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 6.83%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 29th. Clearway Energy’s dividend payout ratio is presently 236.76%.

Insider Transactions at Clearway Energy

In other news, Director Se Totalenergies purchased 196,964 shares of the stock in a transaction dated Thursday, March 28th. The shares were purchased at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the acquisition, the director now owns 295,235 shares in the company, valued at approximately $6,749,072.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.55% of the company’s stock.

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.