Flputnam Investment Management Co. Reduces Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Flputnam Investment Management Co. lowered its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 82.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,555 shares of the company’s stock after selling 64,862 shares during the quarter. Flputnam Investment Management Co.’s holdings in Clearway Energy were worth $352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CWEN. CIBC Asset Management Inc increased its holdings in Clearway Energy by 4.8% during the fourth quarter. CIBC Asset Management Inc now owns 9,074 shares of the company’s stock valued at $236,000 after buying an additional 414 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Clearway Energy by 5.2% in the 4th quarter. Ballentine Partners LLC now owns 15,916 shares of the company’s stock worth $414,000 after purchasing an additional 787 shares in the last quarter. Quad Cities Investment Group LLC raised its holdings in Clearway Energy by 7.6% in the 4th quarter. Quad Cities Investment Group LLC now owns 12,602 shares of the company’s stock worth $328,000 after purchasing an additional 886 shares during the period. Asset Management One Co. Ltd. lifted its position in Clearway Energy by 5.2% during the third quarter. Asset Management One Co. Ltd. now owns 22,402 shares of the company’s stock valued at $687,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Quarry LP grew its holdings in Clearway Energy by 51.6% during the third quarter. Quarry LP now owns 3,671 shares of the company’s stock valued at $113,000 after purchasing an additional 1,249 shares during the period. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Performance

NYSE CWEN opened at $27.25 on Tuesday. The stock has a market capitalization of $5.51 billion, a PE ratio of 26.20, a P/E/G ratio of 1.75 and a beta of 0.88. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92. The business has a 50 day simple moving average of $26.18 and a two-hundred day simple moving average of $27.51. 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 released its quarterly earnings data on Monday, February 24th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.10). The business had revenue of $256.00 million for the quarter, compared to the consensus estimate of $299.73 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. On average, research analysts predict that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.4312 per share. The ex-dividend date of this dividend is Monday, March 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.33%. Clearway Energy’s dividend payout ratio is 229.33%.

Insider Activity

In other news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Roth Mkm reaffirmed a “buy” rating and issued a $34.00 target price (up previously from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearway Energy presently has an average rating of “Moderate Buy” and an average target price of $34.17.

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.