Mather Group LLC. Reduces Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Mather Group LLC. lowered its stake in Clearway Energy, Inc. (NYSE:CWEN) by 34.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,043 shares of the company’s stock after selling 547 shares during the quarter. Mather Group LLC.’s holdings in Clearway Energy were worth $32,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in shares of Clearway Energy in the fourth quarter worth $25,000. Abich Financial Wealth Management LLC increased its position in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after purchasing an additional 625 shares in the last quarter. Whittier Trust Co. raised its stake in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares during the last quarter. Quarry LP lifted its holdings in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after purchasing an additional 843 shares in the last quarter. Finally, Silvia Mccoll Wealth Management LLC acquired a new stake in shares of Clearway Energy during the 3rd quarter worth about $244,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

CWEN stock opened at $27.81 on Tuesday. The stock has a 50-day moving average price of $28.87 and a two-hundred day moving average price of $26.60. The company has a market cap of $5.62 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 2.35 and a beta of 0.86. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 1.19. Clearway Energy, Inc. has a 12-month low of $20.63 and a 12-month high of $30.92.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). The business had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. As a group, research analysts predict that Clearway Energy, Inc. will post 0.85 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date was Tuesday, September 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio (DPR) is currently 251.52%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CWEN. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. Roth Mkm reissued a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, BNP Paribas initiated coverage on Clearway Energy in a report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

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.