Pacer Advisors Inc. Reduces Position in Clearway Energy, Inc. (NYSE:CWEN)

Pacer Advisors Inc. trimmed its stake in Clearway Energy, Inc. (NYSE:CWEN) by 16.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,888 shares of the company’s stock after selling 22,904 shares during the period. Pacer Advisors Inc. owned 0.06% of Clearway Energy worth $3,013,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CWEN. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Clearway Energy by 4.6% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 498,000 shares of the company’s stock worth $12,948,000 after buying an additional 22,000 shares during the period. Ballentine Partners LLC lifted its holdings in Clearway Energy by 5.2% during the fourth quarter. Ballentine Partners LLC now owns 15,916 shares of the company’s stock valued at $414,000 after purchasing an additional 787 shares in the last quarter. San Luis Wealth Advisors LLC purchased a new stake in shares of Clearway Energy in the fourth quarter worth $769,000. Oak Thistle LLC raised its position in shares of Clearway Energy by 46.5% during the 4th quarter. Oak Thistle LLC now owns 45,664 shares of the company’s stock valued at $1,187,000 after purchasing an additional 14,502 shares during the period. Finally, Quad Cities Investment Group LLC lifted its stake in shares of Clearway Energy by 7.6% during the 4th quarter. Quad Cities Investment Group LLC now owns 12,602 shares of the company’s stock valued at $328,000 after buying an additional 886 shares in the last quarter. 84.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares in the company, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Clearway Energy Stock Performance

NYSE CWEN opened at $25.95 on Friday. The stock has a market capitalization of $5.25 billion, a PE ratio of 24.96, a P/E/G ratio of 1.65 and a beta of 0.88. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92. The business has a 50 day simple moving average of $26.73 and a two-hundred day simple moving average of $27.56. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49.

Clearway Energy (NYSE:CWEN) last announced 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 the consensus estimate of $417.55 million. During the same quarter in the prior year, the firm posted $0.03 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, research analysts predict that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. CIBC raised their price target on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.57.

Clearway Energy 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.