Clearway Energy, Inc. (NYSE:CWEN) Stake Reduced by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership cut its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 35.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 375,277 shares of the company’s stock after selling 207,337 shares during the period. Clearway Energy makes up approximately 5.8% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its 6th biggest holding. Foresight Group Ltd Liability Partnership’s holdings in Clearway Energy were worth $9,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Clearway Energy during the third quarter worth about $50,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Clearway Energy during the 3rd quarter valued at approximately $71,000. Quarry LP grew 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 worth $60,000 after buying an additional 843 shares in the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Clearway Energy during the third quarter worth $106,000. Finally, Recurrent Investment Advisors LLC bought a new position in Clearway Energy in the third quarter worth about $202,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CWEN shares. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 30th. CIBC increased their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. BNP Paribas began coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Insider Activity at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the sale, the director now owns 8,153 shares in the company, valued at approximately $218,011.22. This represents a 19.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by corporate insiders.

Clearway Energy Stock Performance

NYSE:CWEN opened at $26.47 on Friday. The company has a 50-day moving average of $27.15 and a 200-day moving average of $27.48. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.67 and a beta of 0.88. 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, Inc. has a twelve month low of $20.63 and a twelve month high of $30.92.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The business had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. Analysts forecast that Clearway Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.424 per share. This represents a $1.70 annualized dividend and a dividend yield of 6.41%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 2nd. Clearway Energy’s dividend payout ratio is currently 163.46%.

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.