22,926 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) by 51.6% during the third quarter, HoldingsChannel.com reports. The institutional investor 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CWEN. Pacer Advisors Inc. grew its stake in shares of Clearway Energy by 0.9% during the first quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock worth $33,169,000 after buying an additional 7,215 shares during the last quarter. Baird Financial Group Inc. lifted its stake in shares of Clearway Energy by 12.9% in the 2nd quarter. Baird Financial Group Inc. now owns 296,250 shares of the company’s stock valued at $10,126,000 after acquiring an additional 33,922 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Clearway Energy by 31.3% in the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock valued at $9,571,000 after acquiring an additional 58,138 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Clearway Energy by 276.7% during the 2nd quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock valued at $7,087,000 after acquiring an additional 152,292 shares in the last quarter. Finally, Castellan Group boosted its holdings in shares of Clearway Energy by 9.2% during the 1st quarter. Castellan Group now owns 142,230 shares of the company’s stock valued at $5,588,000 after acquiring an additional 11,988 shares in the last quarter. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Trading Down 1.0%

CWEN opened at $31.13 on Friday. Clearway Energy, Inc. has a fifty-two week low of $28.57 and a fifty-two week high of $41.74. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 40.96 and a beta of 0.88. The company’s 50 day moving average price is $30.99 and its two-hundred day moving average price is $34.68.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.76. The firm had revenue of $481.00 million during the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. As a group, research analysts predict that Clearway Energy, Inc. will post -0.25 earnings per share for the current year.

Clearway Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

CWEN has been the topic of a number of research reports. Evercore restated a “positive” rating and set a $40.00 price objective on shares of Clearway Energy in a research report on Monday, August 17th. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a report on Friday, July 17th. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Truist Financial cut their price target on Clearway Energy from $43.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, September 28th. Finally, Seaport Research Partners cut their price target on 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $42.00.

Clearway Energy Company Profile

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.