Principal Street Partners LLC Sells 61,870 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Principal Street Partners LLC cut its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 23.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,794 shares of the company’s stock after selling 61,870 shares during the quarter. Clearway Energy makes up approximately 1.0% of Principal Street Partners LLC’s holdings, making the stock its 27th largest holding. Principal Street Partners LLC owned about 0.10% of Clearway Energy worth $6,343,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Ashton Thomas Securities LLC purchased a new position in Clearway Energy during the 3rd quarter valued at $50,000. Abich Financial Wealth Management LLC lifted its position in shares of Clearway Energy by 49.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after purchasing an additional 625 shares during the period. Whittier Trust Co. boosted its stake in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares in the last quarter. Quarry LP increased its position in shares of Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after buying an additional 843 shares during the period. Finally, nVerses Capital LLC raised its stake in Clearway Energy by 34.0% in the third quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock worth $206,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Trading Up 2.4 %

Clearway Energy stock opened at $29.40 on Tuesday. Clearway Energy, Inc. has a 12 month low of $20.63 and a 12 month high of $30.92. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. The business’s fifty day simple moving average is $28.21 and its two-hundred day simple moving average is $27.42. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million during 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 business’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, equities analysts predict that Clearway Energy, Inc. will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.424 dividend. This represents a $1.70 annualized dividend and a dividend yield of 5.77%. The ex-dividend date is Monday, December 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is currently 160.58%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CWEN. CIBC lifted their price objective on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. BNP Paribas began coverage on Clearway Energy in a report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.13.

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.