Courier Capital LLC Cuts Stake in Clearway Energy, Inc. (NYSE:CWEN)

Courier Capital LLC cut its stake in Clearway Energy, Inc. (NYSE:CWEN) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,879 shares of the company’s stock after selling 4,256 shares during the quarter. Courier Capital LLC’s holdings in Clearway Energy were worth $1,081,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CWEN. Bank of Nova Scotia purchased a new position in Clearway Energy in the third quarter valued at about $2,100,000. Teza Capital Management LLC purchased a new position in Clearway Energy in the third quarter valued at about $277,000. Sherbrooke Park Advisers LLC purchased a new position in Clearway Energy in the third quarter valued at about $346,000. AXQ Capital LP acquired a new stake in shares of Clearway Energy during the third quarter valued at about $308,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Clearway Energy during the third quarter valued at about $277,000. 38.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Roth Mkm raised their target price on Clearway Energy from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, May 13th. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Morgan Stanley raised their target price on Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Finally, Evercore ISI raised their target price on Clearway Energy from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Clearway Energy Stock Performance

Clearway Energy stock opened at $24.68 on Friday. The company has a market cap of $4.99 billion, a PE ratio of 37.39 and a beta of 0.90. The company has a fifty day moving average price of $25.98 and a two-hundred day moving average price of $24.69. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.71 and a quick ratio of 1.65. Clearway Energy, Inc. has a 12 month low of $18.59 and a 12 month high of $28.76.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.25. The firm had revenue of $263.00 million during the quarter, compared to the consensus estimate of $286.26 million. Clearway Energy had a net margin of 5.97% and a return on equity of 1.67%. The business’s quarterly revenue was down 8.7% on a year-over-year basis. Research analysts expect that Clearway Energy, Inc. will post 1.01 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date was Monday, June 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s payout ratio is currently 248.49%.

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.