NFJ Investment Group LLC Cuts Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

NFJ Investment Group LLC cut its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 5.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,081 shares of the company’s stock after selling 6,908 shares during the period. NFJ Investment Group LLC’s holdings in Clearway Energy were worth $3,684,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. grew its position 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 acquiring an additional 512 shares during the period. Ashton Thomas Securities LLC purchased a new position in Clearway Energy during the third quarter worth approximately $50,000. Quarry LP grew its holdings in Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after purchasing an additional 843 shares during the period. Icon Wealth Advisors LLC acquired a new stake in Clearway Energy in the 3rd quarter valued at $106,000. Finally, nVerses Capital LLC increased its holdings in Clearway Energy by 34.0% in the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock worth $206,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Price Performance

CWEN stock opened at $28.33 on Wednesday. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The firm has a market capitalization of $5.73 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.39 and a beta of 0.86. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The business has a 50 day simple moving average of $28.16 and a 200-day simple moving average of $27.53.

Clearway Energy (NYSE:CWEN) last issued its 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 company had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue was up 31.0% compared to the same quarter last year. Equities research analysts anticipate that Clearway Energy, Inc. will post 0.78 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.99%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is currently 163.46%.

Analysts Set New Price Targets

Several research firms have issued reports on CWEN. BNP Paribas assumed coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective on the stock. Jefferies Financial Group assumed coverage on Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective on the stock. CIBC increased their target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Finally, StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

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.