Mutual of America Capital Management LLC Decreases Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Mutual of America Capital Management LLC decreased its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 8.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,458 shares of the company’s stock after selling 1,095 shares during the period. Mutual of America Capital Management LLC’s holdings in Clearway Energy were worth $382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fulton Bank N.A. boosted its position in Clearway Energy by 3.8% during the third quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock valued at $374,000 after buying an additional 449 shares during the period. Whittier Trust Co. lifted its stake in shares of Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after acquiring an additional 625 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Clearway Energy by 5.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock valued at $302,000 after acquiring an additional 654 shares during the period. Finally, Congress Asset Management Co. grew its position in Clearway Energy by 0.4% during the 3rd quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock worth $5,806,000 after acquiring an additional 699 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $29.51 on Thursday. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The stock has a market capitalization of $5.96 billion, a P/E ratio of 28.48, a P/E/G ratio of 2.54 and a beta of 0.87. The company’s 50-day moving average is $28.20 and its 200 day moving average is $27.45. 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 posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts expect that Clearway Energy, Inc. will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.424 dividend. This represents a $1.70 annualized dividend and a yield of 5.75%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. Clearway Energy’s dividend payout ratio is presently 160.58%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Jefferies Financial Group started coverage on Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. CIBC upped their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. BNP Paribas started coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, November 22nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.13.

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.