Clearway Energy, Inc. $CWEN Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its stake in Clearway Energy, Inc. (NYSE:CWEN – Free Report) by 51.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,498 shares of the company’s stock after selling 22,926 shares during the period. State of Alaska Department of Revenue’s holdings in Clearway Energy were worth $628,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Fortitude Family Office LLC lifted its position in Clearway Energy by 590.5% during the third quarter. Fortitude Family Office LLC now owns 1,160 shares of the company’s stock worth $34,000 after purchasing an additional 992 shares during the period. Allied Private Wealth LLC acquired a new stake in Clearway Energy during the second quarter worth about $35,000. Eastern Bank acquired a new stake in Clearway Energy during the second quarter worth about $57,000. First Bancorp Inc ME bought a new position in Clearway Energy in the 2nd quarter valued at about $65,000. Finally, Integrated Wealth Concepts LLC bought a new position in Clearway Energy in the 2nd quarter valued at about $83,000. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Price Performance

Clearway Energy stock opened at $31.13 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. Clearway Energy, Inc. has a 52 week low of $28.57 and a 52 week high of $41.74. The stock has a market capitalization of $6.39 billion, a P/E ratio of 40.96 and a beta of 0.88. The stock has a fifty day moving average of $30.99 and a 200-day moving average of $34.68.

Clearway Energy (NYSE:CWEN – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.76. The business had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. On average, sell-side analysts expect that Clearway Energy, Inc. will post -0.25 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.4750 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.1%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.4676. The ex-dividend date of this dividend was Tuesday, September 1st. Clearway Energy’s dividend payout ratio (DPR) is currently 250.00%.

Analyst Ratings Changes

Several brokerages have recently commented on CWEN. Jefferies Financial Group restated a “buy” rating and issued a $38.00 target price on shares of Clearway Energy in a research report on Friday, September 4th. Canadian Imperial Bank of Commerce set a $42.00 price target on shares of Clearway Energy in a report on Friday, July 17th. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Evercore reiterated a “positive” rating and set a $40.00 price target on shares of Clearway Energy in a research report on Monday, August 17th. Finally, Seaport Research Partners decreased their price objective on shares of Clearway Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Clearway Energy currently has a consensus rating of “Buy” and a consensus price target of $42.00.

Check Out Our Latest Stock Report on CWEN

About Clearway Energy

(Free Report)

Clearway Energy, Inc (NYSE:CWEN) owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company’s renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.

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Institutional Ownership by Quarter for Clearway Energy (NYSE:CWEN)

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