First Trust Advisors LP Sells 490,095 Shares of Clearway Energy, Inc. $CWEN

First Trust Advisors LP trimmed its stake in Clearway Energy, Inc. (NYSE:CWEN) by 22.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,681,206 shares of the company’s stock after selling 490,095 shares during the period. First Trust Advisors LP’s holdings in Clearway Energy were worth $47,494,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ballentine Partners LLC lifted its position in Clearway Energy by 2.3% during the third quarter. Ballentine Partners LLC now owns 16,763 shares of the company’s stock valued at $474,000 after purchasing an additional 371 shares in the last quarter. Measured Risk Portfolios Inc. increased its position in Clearway Energy by 0.6% in the third quarter. Measured Risk Portfolios Inc. now owns 79,228 shares of the company’s stock worth $2,238,000 after buying an additional 469 shares in the last quarter. James Investment Research Inc. raised its stake in shares of Clearway Energy by 6.3% in the third quarter. James Investment Research Inc. now owns 7,966 shares of the company’s stock worth $225,000 after buying an additional 473 shares during the period. CW Advisors LLC raised its stake in shares of Clearway Energy by 3.6% in the second quarter. CW Advisors LLC now owns 15,185 shares of the company’s stock worth $486,000 after buying an additional 525 shares during the period. Finally, Abundance Wealth Counselors lifted its position in shares of Clearway Energy by 1.5% during the 3rd quarter. Abundance Wealth Counselors now owns 39,760 shares of the company’s stock valued at $1,123,000 after buying an additional 602 shares in the last quarter. 84.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CWEN. Royal Bank Of Canada boosted their price objective on Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, February 28th. UBS Group set a $45.00 price target on shares of Clearway Energy in a research report on Tuesday, February 24th. Zacks Research cut shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Canadian Imperial Bank of Commerce upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and raised their price objective for the company from $37.00 to $38.00 in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.14.

Clearway Energy Stock Performance

NYSE:CWEN opened at $37.85 on Thursday. The stock has a 50-day moving average price of $36.88 and a 200 day moving average price of $33.70. The stock has a market capitalization of $7.77 billion, a P/E ratio of 26.66, a P/E/G ratio of 1.63 and a beta of 0.95. Clearway Energy, Inc. has a 12-month low of $25.63 and a 12-month high of $41.51. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 1.36.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Monday, February 23rd. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.The business had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $334.42 million. During the same period in the prior year, the firm posted ($0.41) earnings per share. Equities research analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a $0.4602 dividend. This represents a $1.84 annualized dividend and a dividend yield of 4.9%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, March 2nd. Clearway Energy’s payout ratio is presently 129.58%.

Clearway Energy Company 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.