Clearway Energy, Inc. (NYSE:CWEN) Holdings Reduced by Griffin Asset Management Inc.

Griffin Asset Management Inc. decreased its position in Clearway Energy, Inc. (NYSE:CWEN) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,216 shares of the company’s stock after selling 531 shares during the period. Griffin Asset Management Inc.’s holdings in Clearway Energy were worth $824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in shares of Clearway Energy by 4.8% in the 4th quarter. CIBC Asset Management Inc now owns 9,074 shares of the company’s stock worth $236,000 after purchasing an additional 414 shares in the last quarter. Uniplan Investment Counsel Inc. grew its position in Clearway Energy by 0.9% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company’s stock valued at $1,703,000 after purchasing an additional 586 shares in the last quarter. Mascoma Wealth Management LLC bought a new stake in Clearway Energy in the fourth quarter worth approximately $28,000. New Age Alpha Advisors LLC bought a new stake in Clearway Energy in the fourth quarter worth approximately $31,000. Finally, AGF Management Ltd. lifted its stake in shares of Clearway Energy by 8.0% in the fourth quarter. AGF Management Ltd. now owns 16,337 shares of the company’s stock worth $425,000 after buying an additional 1,210 shares during the last quarter. Institutional investors own 84.53% of the company’s stock.

Wall Street Analysts Forecast Growth

CWEN has been the subject of several research analyst reports. Wall Street Zen cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They set a “buy” rating and a $38.00 target price for the company. Finally, Roth Mkm reiterated a “buy” rating and set a $34.00 target price (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Clearway Energy Trading Down 0.4%

Shares of Clearway Energy stock opened at $31.58 on Friday. The firm has a 50-day moving average of $29.46 and a 200-day moving average of $28.06. The stock has a market cap of $6.39 billion, a PE ratio of 30.37, a PEG ratio of 1.75 and a beta of 0.87. Clearway Energy, Inc. has a 52-week low of $24.02 and a 52-week high of $31.76. 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 (NYSE:CWEN) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.25) by $0.28. The company had revenue of $298.00 million during the quarter, compared to analysts’ expectations of $305.74 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) EPS. As a group, sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.4384 per share. This represents a $1.75 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Monday, June 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.43. Clearway Energy’s dividend payout ratio is currently 218.75%.

Clearway Energy 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.