State of New Jersey Common Pension Fund D Has $2.08 Million Stake in Clearway Energy, Inc. (NYSE:CWEN)

State of New Jersey Common Pension Fund D reduced its stake in Clearway Energy, Inc. (NYSE:CWEN) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 67,861 shares of the company’s stock after selling 2,668 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Clearway Energy were worth $2,082,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CWEN. Sei Investments Co. acquired a new stake in shares of Clearway Energy in the first quarter worth $1,010,000. MQS Management LLC bought a new stake in Clearway Energy during the first quarter valued at about $228,000. Silvercrest Asset Management Group LLC grew its position in shares of Clearway Energy by 2.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 63,219 shares of the company’s stock valued at $1,457,000 after purchasing an additional 1,658 shares during the last quarter. Apollo Management Holdings L.P. increased its stake in shares of Clearway Energy by 38.4% in the first quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock worth $37,924,000 after purchasing an additional 456,197 shares during the period. Finally, BROOKFIELD Corp ON lifted its position in shares of Clearway Energy by 3.7% during the 1st quarter. BROOKFIELD Corp ON now owns 182,316 shares of the company’s stock worth $4,202,000 after purchasing an additional 6,520 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CWEN. CIBC lifted their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Roth Mkm reissued a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday. BNP Paribas started coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price for the company. Finally, Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $25.00 to $36.00 in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Clearway Energy has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Stock Up 0.7 %

Shares of CWEN opened at $27.56 on Friday. Clearway Energy, Inc. has a 12 month low of $20.63 and a 12 month high of $30.92. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 26.50, a P/E/G ratio of 2.38 and a beta of 0.87. The company has a 50-day moving average price of $28.23 and a two-hundred day moving average price of $27.24. 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 company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same quarter last year, the business earned $0.03 EPS. Clearway Energy’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities analysts predict that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 dividend yield of 6.15%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is 160.58%.

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.