First Trust Advisors LP Cuts Stake in Clearway Energy, Inc. (NYSE:CWEN)

First Trust Advisors LP lessened its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN – Get Rating) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 645,326 shares of the company’s stock after selling 96,628 shares during the period. First Trust Advisors LP owned approximately 0.32% of Clearway Energy worth $20,567,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Congress Wealth Management LLC DE purchased a new stake in Clearway Energy during the 4th quarter valued at about $335,000. Aveo Capital Partners LLC increased its holdings in Clearway Energy by 7.5% in the 4th quarter. Aveo Capital Partners LLC now owns 20,475 shares of the company’s stock worth $653,000 after buying an additional 1,425 shares during the period. FCF Advisors LLC purchased a new position in Clearway Energy during the 4th quarter worth approximately $702,000. Lindbrook Capital LLC lifted its stake in Clearway Energy by 1,727.1% during the 4th quarter. Lindbrook Capital LLC now owns 10,469 shares of the company’s stock valued at $334,000 after acquiring an additional 9,896 shares during the period. Finally, Values First Advisors Inc. boosted its holdings in shares of Clearway Energy by 12.5% in the 4th quarter. Values First Advisors Inc. now owns 27,857 shares of the company’s stock valued at $888,000 after acquiring an additional 3,092 shares during the last quarter. Institutional investors and hedge funds own 77.98% of the company’s stock.

Insider Activity at Clearway Energy

In other Clearway Energy news, Director Infrastructure Investor Global bought 71,980 shares of the business’s stock in a transaction dated Friday, March 31st. The shares were acquired at an average price of $31.15 per share, with a total value of $2,242,177.00. Following the transaction, the director now owns 172,601 shares of the company’s stock, valued at $5,376,521.15. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by corporate insiders.

Clearway Energy Trading Down 2.2 %

Shares of NYSE CWEN opened at $29.95 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.94 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $6.05 billion, a PE ratio of 5.68 and a beta of 0.73. Clearway Energy, Inc. has a twelve month low of $28.75 and a twelve month high of $41.79. The stock has a fifty day simple moving average of $30.76 and a 200-day simple moving average of $32.43.

Clearway Energy (NYSE:CWEN – Get Rating) last released its earnings results on Thursday, February 23rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.98. Clearway Energy had a net margin of 48.58% and a negative return on equity of 9.85%. The company had revenue of $268.00 million for the quarter, compared to analyst estimates of $313.21 million. On average, equities analysts forecast that Clearway Energy, Inc. will post 1.85 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be issued a $0.382 dividend. This represents a $1.53 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Wednesday, May 31st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.38. Clearway Energy’s dividend payout ratio is 28.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CWEN. Oppenheimer decreased their target price on shares of Clearway Energy from $41.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, February 24th. StockNews.com initiated coverage on Clearway Energy in a report on Thursday. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.75.

Clearway Energy Profile

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Clearway Energy, Inc engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It operates through the following segments: Conventional Generation, Thermal, Renewable, and Corporate. The Renewable segment include solar and wind business.