Clearway Energy, Inc. (NYSE:CWEN) Stock Holdings Trimmed by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC decreased its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 76.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,115 shares of the company’s stock after selling 207,142 shares during the period. HITE Hedge Asset Management LLC’s holdings in Clearway Energy were worth $1,998,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CWEN. Fulton Bank N.A. grew its holdings in shares of Clearway Energy by 3.8% in the 3rd quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock valued at $374,000 after acquiring an additional 449 shares in the last quarter. Whittier Trust Co. lifted its position in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Clearway Energy by 5.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock valued at $302,000 after buying an additional 654 shares during the last quarter. Congress Asset Management Co. grew its stake in Clearway Energy by 0.4% in the 3rd quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock valued at $5,806,000 after buying an additional 699 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Clearway Energy by 53.4% during the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after acquiring an additional 843 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

CWEN opened at $29.08 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92. The company has a 50-day moving average of $28.19 and a 200-day moving average of $27.52. The company has a market capitalization of $5.88 billion, a P/E ratio of 27.96, a PEG ratio of 1.41 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last released 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 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 analysts’ expectations of $417.55 million. During the same period in the previous year, the company earned $0.03 EPS. Clearway Energy’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities analysts expect that Clearway Energy, Inc. will post 0.78 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 5.83%. Clearway Energy’s dividend payout ratio is 160.58%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CWEN. CIBC increased their price objective 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. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday. Jefferies Financial Group started coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. Finally, BNP Paribas began coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.