Hilton Capital Management LLC Lowers Position in Clearway Energy, Inc. (NYSE:CWEN)

Hilton Capital Management LLC trimmed its stake in Clearway Energy, Inc. (NYSE:CWEN) by 5.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,950 shares of the company’s stock after selling 2,768 shares during the quarter. Hilton Capital Management LLC’s holdings in Clearway Energy were worth $1,532,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Meeder Asset Management Inc. lifted its position in Clearway Energy by 23.7% during the third quarter. Meeder Asset Management Inc. now owns 42,577 shares of the company’s stock valued at $1,306,000 after buying an additional 8,163 shares in the last quarter. ING Groep NV acquired a new position in Clearway Energy during the third quarter valued at approximately $229,000. Plato Investment Management Ltd acquired a new position in Clearway Energy during the third quarter valued at approximately $245,000. Oppenheimer & Co. Inc. lifted its position in Clearway Energy by 13.3% during the third quarter. Oppenheimer & Co. Inc. now owns 10,722 shares of the company’s stock valued at $329,000 after buying an additional 1,260 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Clearway Energy during the third quarter valued at approximately $1,026,000. 38.03% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Trading Up 0.8 %

CWEN opened at $27.80 on Wednesday. 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, Inc. has a 12-month low of $20.63 and a 12-month high of $30.92. The firm’s fifty day moving average price is $28.23 and its 200 day moving average price is $27.35. The stock has a market capitalization of $5.62 billion, a PE ratio of 26.73, a P/E/G ratio of 2.44 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, research analysts expect that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 annualized dividend and a yield of 6.10%. Clearway Energy’s payout ratio is presently 160.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CWEN. CIBC lifted their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. 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 report on Wednesday, July 31st. Jefferies Financial Group began coverage on shares of Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 target price on the stock. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. Finally, BNP Paribas began coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and an average price target 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.