5 Utilities Stocks with Over 3% Dividend Yield

3. Clearway Energy, Inc. (NYSE: CWEN)

Number of Hedge Fund Holders: 24
Dividend Yield: 4.3

Clearway Energy, Inc. (NYSE: CWEN) is a utility company that navigates the renewable energy businesses in the US and ranks 3rd on our list of utilities stocks with over 3% yield. The company had about 4,200 net megawatts of installed wind and solar generation projects and 2,500 net MW of natural gas generational facilities as of this March.

This April, Tudor Pickering began covering shares of Clearway Energy, Inc. (NYSE: CWEN) with a Buy rating. The firm has also placed a $33 price target on the stock.

In the second quarter of 2021, Clearway Energy, Inc. (NYSE: CWEN) had an EPS of $0.30, beating the previous quarter’s EPS of $0.03 by a large margin. The company’s revenue was $380 million, up 15.5% year over year and beating estimates by $6.61 million. Clearway Energy, Inc. (NYSE: CWEN) has gained 16.31% in the past year.

By the end of the first quarter of 2021, 24 hedge funds out of the 866 tracked by Insider Monkey held stakes in Clearway Energy, Inc. (NYSE: CWEN) worth roughly $232 million. This is compared to 22 hedge funds in the previous quarter with a total stake value of approximately $286 million.