Vestmark Advisory Solutions Inc. Cuts Stock Position in Clearway Energy, Inc. $CWEN

Vestmark Advisory Solutions Inc. cut its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 50.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,781 shares of the company’s stock after selling 7,007 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Clearway Energy were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Prudent Man Advisors LLC grew its position in shares of Clearway Energy by 3.9% during the second quarter. Prudent Man Advisors LLC now owns 27,234 shares of the company’s stock worth $871,000 after purchasing an additional 1,015 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in Clearway Energy by 207.5% during the 2nd quarter. Asset Management One Co. Ltd. now owns 44,907 shares of the company’s stock valued at $1,437,000 after buying an additional 30,305 shares in the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in shares of Clearway Energy during the second quarter valued at approximately $624,000. First Citizens Bank & Trust Co. purchased a new position in shares of Clearway Energy in the second quarter worth $440,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Clearway Energy during the second quarter worth $714,000. Institutional investors own 84.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th. Evercore ISI started coverage on Clearway Energy in a research report on Monday, October 6th. They set an “in-line” rating and a $34.00 price objective for the company. Jefferies Financial Group boosted their target price on Clearway Energy from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada began coverage on Clearway Energy in a research note on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price target for the company. Finally, Cibc World Mkts downgraded Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.71.

Clearway Energy Price Performance

NYSE:CWEN opened at $35.55 on Thursday. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.84 and a beta of 0.93. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.54 and a quick ratio of 1.44. The business has a 50 day simple moving average of $30.79 and a 200-day simple moving average of $30.77. Clearway Energy, Inc. has a 1 year low of $24.40 and a 1 year high of $35.95.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $0.32 by $1.68. The company had revenue of $429.00 million for the quarter, compared to analyst estimates of $427.72 million. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.Clearway Energy’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.31 EPS. Equities analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a $0.4528 dividend. The ex-dividend date is Monday, December 1st. This represents a $1.81 dividend on an annualized basis and a yield of 5.1%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is currently 76.07%.

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.