Nordea Investment Management AB Purchases 82,621 Shares of Clearway Energy, Inc. $CWEN

Nordea Investment Management AB increased its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 33.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 328,235 shares of the company’s stock after purchasing an additional 82,621 shares during the period. Nordea Investment Management AB owned approximately 0.16% of Clearway Energy worth $9,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CWEN. Mather Group LLC. bought a new stake in shares of Clearway Energy in the third quarter valued at about $29,000. Hilltop National Bank acquired a new stake in Clearway Energy in the 2nd quarter worth about $35,000. Headlands Technologies LLC bought a new stake in Clearway Energy in the 2nd quarter valued at about $43,000. Jump Financial LLC acquired a new position in shares of Clearway Energy during the 2nd quarter worth approximately $215,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Clearway Energy by 140.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,818 shares of the company’s stock worth $218,000 after purchasing an additional 3,982 shares during the period. 84.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. UBS Group reissued a “buy” rating and set a $39.00 price target on shares of Clearway Energy in a research report on Wednesday, December 10th. Royal Bank Of Canada began coverage on Clearway Energy in a report on Wednesday, October 8th. They set an “outperform” rating and a $36.00 target price on the stock. Cibc Captl Mkts raised Clearway Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Roth Capital increased their price objective on shares of Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 24th. Finally, Wall Street Zen lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.25.

Clearway Energy Trading Up 2.1%

CWEN opened at $36.11 on Friday. The company has a market cap of $7.36 billion, a P/E ratio of 15.43, a PEG ratio of 1.34 and a beta of 0.95. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. The company’s 50 day moving average is $34.14 and its 200-day moving average is $31.95. Clearway Energy, Inc. has a 1-year low of $24.50 and a 1-year high of $36.89.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. The business had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $427.72 million. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. Equities research analysts predict 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, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.4528 per share. The ex-dividend date was Monday, December 1st. This represents a $1.81 dividend on an annualized basis and a yield of 5.0%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio is presently 77.35%.

Clearway Energy Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.