Clearway Energy, Inc. (NYSE:CWEN) Shares Sold by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership reduced its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 7.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 582,614 shares of the company’s stock after selling 45,101 shares during the period. Clearway Energy makes up approximately 7.5% of Foresight Group Ltd Liability Partnership’s investment portfolio, making the stock its 6th biggest holding. Foresight Group Ltd Liability Partnership owned 0.29% of Clearway Energy worth $17,875,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CWEN. Quad Cities Investment Group LLC acquired a new position in Clearway Energy during the third quarter valued at $359,000. nVerses Capital LLC lifted its position in Clearway Energy by 34.0% during the third quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock valued at $206,000 after purchasing an additional 1,700 shares during the period. Creative Planning lifted its position in Clearway Energy by 23.5% during the third quarter. Creative Planning now owns 16,450 shares of the company’s stock valued at $505,000 after purchasing an additional 3,134 shares during the period. Fulton Bank N.A. lifted 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 purchasing an additional 449 shares during the period. Finally, Silvia Mccoll Wealth Management LLC acquired a new position in shares of Clearway Energy in the third quarter worth about $244,000. 38.03% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

NYSE:CWEN opened at $26.83 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.30 and a beta of 0.86. The company’s 50-day moving average is $28.74 and its two-hundred day moving average is $26.77. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The firm had revenue of $366.00 million during the quarter, compared to analyst estimates of $424.59 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. Analysts forecast that Clearway Energy, Inc. will post 0.85 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.417 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a dividend yield of 6.22%. The ex-dividend date was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio is currently 219.74%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CWEN. Jefferies Financial Group began coverage on shares of Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. Roth Mkm reissued a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. BNP Paribas began coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price for the company. Finally, CIBC boosted their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.