Synergy Asset Management LLC Has $3.02 Million Stock Position in Clearway Energy, Inc. $CWEN

Synergy Asset Management LLC lessened its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 60.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,647 shares of the company’s stock after selling 138,489 shares during the quarter. Synergy Asset Management LLC’s holdings in Clearway Energy were worth $3,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CWEN. First Trust Advisors LP increased its position in Clearway Energy by 3.7% during the second quarter. First Trust Advisors LP now owns 2,171,301 shares of the company’s stock worth $69,482,000 after acquiring an additional 77,595 shares during the period. RWC Asset Management LLP grew its position in shares of Clearway Energy by 12.2% during the 3rd quarter. RWC Asset Management LLP now owns 745,537 shares of the company’s stock worth $21,061,000 after purchasing an additional 81,349 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in shares of Clearway Energy by 8.8% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company’s stock worth $17,656,000 after purchasing an additional 50,344 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Clearway Energy by 0.3% during the third quarter. Aberdeen Group plc now owns 580,307 shares of the company’s stock worth $16,463,000 after purchasing an additional 1,807 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Clearway Energy by 1.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock valued at $12,290,000 after buying an additional 5,142 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Canadian Imperial Bank of Commerce upgraded Clearway Energy from a “neutral” rating to a “sector outperform” rating and boosted their price target for the company from $37.00 to $38.00 in a research note on Tuesday, December 16th. Royal Bank Of Canada raised their price objective on Clearway Energy from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, January 21st. Roth Mkm reiterated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. Finally, Zacks Research lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Clearway Energy has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Clearway Energy Stock Performance

Shares of Clearway Energy stock opened at $38.91 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 1.36. The company has a market cap of $7.99 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.70 and a beta of 0.95. The company has a 50 day moving average of $38.14 and a 200-day moving average of $34.40. Clearway Energy, Inc. has a 1-year low of $25.63 and a 1-year high of $41.51.

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

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were paid a $0.4602 dividend. This represents a $1.84 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, March 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio is 129.58%.

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.