Wolverine Asset Management LLC Sells 3,900 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Wolverine Asset Management LLC decreased its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 17.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 18,500 shares of the company’s stock after selling 3,900 shares during the quarter. Wolverine Asset Management LLC’s holdings in Clearway Energy were worth $507,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CWEN. AE Wealth Management LLC increased its holdings in shares of Clearway Energy by 22.4% during the 3rd quarter. AE Wealth Management LLC now owns 61,886 shares of the company’s stock worth $1,310,000 after purchasing an additional 11,322 shares during the period. Oak Thistle LLC bought a new position in shares of Clearway Energy during the 3rd quarter worth about $462,000. Spirit of America Management Corp NY increased its holdings in shares of Clearway Energy by 23.3% during the 3rd quarter. Spirit of America Management Corp NY now owns 5,300 shares of the company’s stock worth $112,000 after purchasing an additional 1,000 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Clearway Energy by 14.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 12,096 shares of the company’s stock worth $256,000 after purchasing an additional 1,481 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Clearway Energy by 11.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 63,756 shares of the company’s stock valued at $1,349,000 after acquiring an additional 6,526 shares in the last quarter. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

NYSE:CWEN opened at $23.14 on Friday. The firm has a market cap of $4.68 billion, a PE ratio of 34.02 and a beta of 0.88. Clearway Energy, Inc. has a 12 month low of $18.59 and a 12 month high of $31.72. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $22.51 and its two-hundred day moving average price is $23.59.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.15. The firm had revenue of $249.00 million for the quarter, compared to analyst estimates of $282.45 million. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. On average, equities analysts anticipate that Clearway Energy, Inc. will post 0.92 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.403 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 6.97%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 29th. Clearway Energy’s dividend payout ratio is presently 236.76%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CWEN. Oppenheimer lifted their target price on shares of Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley lifted their target price on shares of Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Marathon Capitl reiterated an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada decreased their target price on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Clearway Energy has an average rating of “Hold” and a consensus price target of $28.33.

Insider Transactions at Clearway Energy

In related news, Director Se Totalenergies bought 196,964 shares of Clearway Energy stock in a transaction dated Thursday, March 28th. The shares were bought at an average cost of $22.86 per share, for a total transaction of $4,502,597.04. Following the completion of the transaction, the director now owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

Clearway Energy Company 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.