Clearway Energy, Inc. (NYSE:CWEN) Shares Sold by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC decreased its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,871 shares of the company’s stock after selling 927 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Clearway Energy were worth $303,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CWEN. Nordea Investment Management AB raised its holdings in Clearway Energy by 11.0% during the 1st quarter. Nordea Investment Management AB now owns 171,212 shares of the company’s stock worth $3,892,000 after buying an additional 17,014 shares during the period. Significant Wealth Partners LLC purchased a new stake in shares of Clearway Energy in the 1st quarter valued at approximately $480,000. Sei Investments Co. acquired a new position in Clearway Energy in the 1st quarter worth approximately $1,010,000. Meeder Asset Management Inc. purchased a new position in Clearway Energy during the 1st quarter worth approximately $747,000. Finally, Qsemble Capital Management LP acquired a new stake in Clearway Energy during the 1st quarter valued at $516,000. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Stock Performance

CWEN stock opened at $28.79 on Wednesday. The firm has a 50 day moving average of $28.38 and a two-hundred day moving average of $27.07. Clearway Energy, Inc. has a 12 month low of $20.63 and a 12 month high of $30.92. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 2.44 and a beta of 0.87. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, equities analysts anticipate that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.424 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a yield of 5.89%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is presently 162.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CWEN. Jefferies Financial Group initiated coverage on Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, CIBC upped their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.13.

About Clearway Energy

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.