Clearway Energy, Inc. $CWEN Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 53.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,219,762 shares of the company’s stock after selling 1,395,655 shares during the period. First Trust Advisors LP owned approximately 0.59% of Clearway Energy worth $47,924,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in shares of Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after purchasing an additional 705 shares during the last quarter. National Bank of Canada FI grew its position in Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares during the last quarter. Huntington National Bank increased its stake in Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after purchasing an additional 412 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Clearway Energy by 94.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after purchasing an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Clearway Energy in the second quarter worth $43,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a research report on Friday, July 17th. Weiss Ratings lowered Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a research report on Thursday, April 9th. Finally, Zacks Research downgraded Clearway Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.00.

Clearway Energy Trading Up 0.1%

Shares of Clearway Energy stock opened at $32.11 on Monday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The firm has a fifty day moving average price of $36.47 and a 200 day moving average price of $37.54. Clearway Energy, Inc. has a 1 year low of $27.67 and a 1 year high of $41.74. The stock has a market cap of $6.59 billion, a PE ratio of 803.00 and a beta of 0.89.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The business had revenue of $354.00 million for the quarter, compared to analyst estimates of $340.75 million. Equities research analysts predict that Clearway Energy, Inc. will post -1.01 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.4676 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.87 annualized dividend and a dividend yield of 5.8%. Clearway Energy’s payout ratio is presently 4,675.00%.

Clearway Energy Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.