Wolverine Asset Management LLC Lowers Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

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

A number of other institutional investors have also recently added to or reduced their stakes in CWEN. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Clearway Energy in the 3rd quarter worth $42,000. Spirit of America Management Corp NY lifted its holdings in Clearway Energy by 23.3% in the 3rd quarter. Spirit of America Management Corp NY now owns 5,300 shares of the company’s stock worth $112,000 after buying an additional 1,000 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of Clearway Energy in the 4th quarter valued at about $175,000. Xponance Inc. acquired a new stake in shares of Clearway Energy in the 4th quarter valued at about $214,000. Finally, Silvia Mccoll Wealth Management LLC acquired a new stake in shares of Clearway Energy in the 4th quarter valued at about $239,000. 38.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $23.14 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 1.50. Clearway Energy, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $31.72. The firm has a 50-day simple moving average of $22.51 and a 200 day simple moving average of $23.59. The company has a market cap of $4.68 billion, a PE ratio of 34.02 and a beta of 0.88.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Thursday, February 22nd. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.16 by $0.15. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The firm had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $282.45 million. During the same quarter in the prior year, the firm earned $0.10 EPS. Clearway Energy’s quarterly revenue was down 18.4% on a year-over-year basis. On average, sell-side analysts anticipate that Clearway Energy, Inc. will post 0.92 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.403 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 29th. This represents a $1.61 annualized dividend and a yield of 6.97%. Clearway Energy’s dividend payout ratio is 236.76%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CWEN. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Oppenheimer upped their target price on shares of Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Royal Bank of Canada cut 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 note on Tuesday, February 27th. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Finally, Morgan Stanley boosted their price objective 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. One 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.33.

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.