CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Reduces Stock Position in Clearway Energy, Inc. $CWEN

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT decreased its stake in Clearway Energy, Inc. (NYSE:CWEN) by 23.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 400,000 shares of the company’s stock after selling 122,000 shares during the quarter. Clearway Energy makes up 0.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 26th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.20% of Clearway Energy worth $12,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of CWEN. Alpine Bank Wealth Management purchased a new stake in shares of Clearway Energy in the first quarter worth about $27,000. Tsfg LLC purchased a new stake in shares of Clearway Energy in the first quarter worth about $61,000. NBT Bank N A NY purchased a new stake in shares of Clearway Energy in the first quarter worth about $71,000. SBI Securities Co. Ltd. boosted its stake in shares of Clearway Energy by 48.8% in the first quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company’s stock worth $89,000 after buying an additional 966 shares during the last quarter. Finally, Wealthspire Advisors LLC purchased a new stake in shares of Clearway Energy in the first quarter worth about $206,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CWEN shares. Cibc World Mkts downgraded Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Wall Street Zen downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Jefferies Financial Group increased their price target on Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Finally, CIBC downgraded Clearway Energy from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Saturday, July 19th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Clearway Energy presently has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Clearway Energy Trading Down 0.0%

Shares of Clearway Energy stock opened at $28.10 on Monday. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 43.23, a PEG ratio of 1.24 and a beta of 0.87. Clearway Energy, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $33.22. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. The stock has a 50 day moving average of $30.25 and a 200 day moving average of $30.10.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.39). The business had revenue of $392.00 million during the quarter, compared to analysts’ expectations of $428.33 million. Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, research analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $0.4456 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a yield of 6.3%. Clearway Energy’s dividend payout ratio (DPR) is currently 273.85%.

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.