NFJ Investment Group LLC Sells 6,908 Shares of Clearway Energy, Inc. (NYSE:CWEN)

NFJ Investment Group LLC reduced its position in Clearway Energy, Inc. (NYSE:CWEN) by 5.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,081 shares of the company’s stock after selling 6,908 shares during the quarter. NFJ Investment Group LLC owned 0.06% of Clearway Energy worth $3,684,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CWEN. Teachers Retirement System of The State of Kentucky boosted its position in Clearway Energy by 12.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 38,400 shares of the company’s stock valued at $885,000 after acquiring an additional 4,100 shares in the last quarter. Fulton Bank N.A. grew its stake in Clearway Energy by 12.9% in the second quarter. Fulton Bank N.A. now owns 11,757 shares of the company’s stock valued at $290,000 after purchasing an additional 1,347 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Clearway Energy during the second quarter valued at about $712,000. Monetary Management Group Inc. lifted its position in shares of Clearway Energy by 228.6% during the second quarter. Monetary Management Group Inc. now owns 13,800 shares of the company’s stock valued at $341,000 after buying an additional 9,600 shares during the last quarter. Finally, Abundance Wealth Counselors boosted its holdings in shares of Clearway Energy by 24.2% in the 2nd quarter. Abundance Wealth Counselors now owns 36,855 shares of the company’s stock valued at $910,000 after buying an additional 7,177 shares in the last quarter. 38.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on CWEN shares. BNP Paribas assumed coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price for the company. Jefferies Financial Group initiated coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, CIBC increased their price target on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Clearway Energy has a consensus rating of “Moderate Buy” and a consensus price target of $33.13.

Clearway Energy Stock Down 2.6 %

Clearway Energy stock opened at $28.33 on Wednesday. Clearway Energy, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The company has a market cap of $5.73 billion, a PE ratio of 27.24, a PEG ratio of 1.39 and a beta of 0.86. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The business’s 50-day simple moving average is $28.16 and its two-hundred day simple moving average is $27.53.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share 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 during the quarter, compared to analyst estimates of $417.55 million. During the same quarter last year, the company posted $0.03 EPS. Clearway Energy’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities analysts anticipate that Clearway Energy, Inc. will post 0.78 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This represents a $1.70 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is 163.46%.

Clearway Energy Company 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.