Mutual of America Capital Management LLC Lowers Stock Holdings in Clearway Energy, Inc. $CWEN

Mutual of America Capital Management LLC cut its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 11.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,695 shares of the company’s stock after selling 1,367 shares during the period. Mutual of America Capital Management LLC’s holdings in Clearway Energy were worth $342,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Clearway Energy during the first quarter worth approximately $280,000. Summit Trail Advisors LLC purchased a new position in Clearway Energy during the 1st quarter worth $218,000. M&T Bank Corp lifted its stake in shares of Clearway Energy by 75.8% in the 1st quarter. M&T Bank Corp now owns 25,225 shares of the company’s stock worth $764,000 after acquiring an additional 10,878 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Clearway Energy by 79.9% in the first quarter. Nisa Investment Advisors LLC now owns 17,455 shares of the company’s stock valued at $528,000 after acquiring an additional 7,750 shares in the last quarter. Finally, Alps Advisors Inc. boosted its holdings in shares of Clearway Energy by 0.5% in the first quarter. Alps Advisors Inc. now owns 169,464 shares of the company’s stock valued at $5,130,000 after acquiring an additional 862 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Price Performance

CWEN stock opened at $32.06 on Wednesday. Clearway Energy, Inc. has a 1 year low of $24.40 and a 1 year high of $33.22. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. The stock’s 50 day moving average price is $29.88 and its 200 day moving average price is $30.37. The firm has a market cap of $6.48 billion, a P/E ratio of 49.33, a PEG ratio of 1.26 and a beta of 0.89.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.39). Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The company had revenue of $392.00 million for the quarter, compared to analysts’ expectations of $428.33 million. During the same period in the previous year, the business posted $0.43 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. On average, sell-side analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.4456 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.6%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, September 2nd. Clearway Energy’s payout ratio is presently 273.85%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Cibc World Mkts cut Clearway Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, July 21st. CIBC boosted their price objective on shares of Clearway Energy from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th. Jefferies Financial Group lifted their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Finally, Evercore ISI started coverage on Clearway Energy in a report on Monday, October 6th. They issued an “in-line” rating and a $34.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.57.

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.