Clearway Energy, Inc. $CWEN Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 53.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,219,762 shares of the company’s stock after selling 1,395,655 shares during the quarter. First Trust Advisors LP’s holdings in Clearway Energy were worth $47,924,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after purchasing an additional 705 shares during the period. National Bank of Canada FI grew its position in Clearway Energy by 201.9% during the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after buying an additional 652 shares during the period. Huntington National Bank grew its position in Clearway Energy by 92.4% during the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 412 shares during the period. Geneos Wealth Management Inc. increased its holdings in Clearway Energy by 94.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after buying an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Clearway Energy in the second quarter valued at $43,000. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Trading Up 0.1%

CWEN stock opened at $32.11 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. Clearway Energy, Inc. has a 12-month low of $27.67 and a 12-month high of $41.74. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 803.00 and a beta of 0.89. The business’s 50-day moving average is $36.47 and its 200 day moving average is $37.54.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The firm had revenue of $354.00 million for the quarter, compared to analyst estimates of $340.75 million. On average, sell-side analysts anticipate that Clearway Energy, Inc. will post -1.01 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.4676 per share. The ex-dividend date was Monday, June 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 annualized dividend and a dividend yield of 5.8%. Clearway Energy’s dividend payout ratio (DPR) is presently 4,675.00%.

Analyst Ratings Changes

CWEN has been the topic of several recent analyst reports. Weiss Ratings lowered shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. UBS Group lifted their price target on Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a report on Thursday, April 9th. Morgan Stanley increased their price target on Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Finally, Truist Financial initiated coverage on Clearway Energy in a report on Monday, July 13th. They issued a “buy” rating and a $43.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $44.00.

Clearway Energy Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.