State of New Jersey Common Pension Fund D Has $2.06 Million Position in Clearway Energy, Inc. $CWEN

State of New Jersey Common Pension Fund D lowered its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,281 shares of the company’s stock after selling 8,173 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Clearway Energy were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hilltop National Bank bought a new position in shares of Clearway Energy during the 2nd quarter valued at $35,000. SBI Securities Co. Ltd. raised its holdings in shares of Clearway Energy by 48.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company’s stock valued at $89,000 after purchasing an additional 966 shares in the last quarter. Wealthspire Advisors LLC bought a new position in shares of Clearway Energy during the 1st quarter valued at $206,000. Summit Trail Advisors LLC bought a new position in shares of Clearway Energy during the 1st quarter valued at $218,000. Finally, James Investment Research Inc. bought a new position in shares of Clearway Energy during the 1st quarter valued at $227,000. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Performance

Shares of CWEN opened at $31.81 on Thursday. The company has a market capitalization of $6.43 billion, a PE ratio of 48.94, a price-to-earnings-growth ratio of 1.27 and a beta of 0.89. Clearway Energy, Inc. has a one year low of $24.40 and a one year high of $33.22. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.34. The company’s fifty day moving average price is $29.91 and its 200 day moving average price is $30.40.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) 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 the consensus estimate of $428.33 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.44. Clearway Energy’s payout ratio is presently 273.85%.

Wall Street Analyst Weigh In

CWEN has been the topic of a number of recent research reports. Evercore ISI initiated coverage on shares of Clearway Energy in a report on Monday, October 6th. They set an “in-line” rating and a $34.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Royal Bank Of Canada started coverage on shares of Clearway Energy in a report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 target price on the stock. Finally, CIBC lifted their target price 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. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Clearway Energy presently has an average rating of “Moderate Buy” and an average target price of $36.57.

About Clearway Energy

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.