Clearway Energy, Inc. $CWEN Shares Sold by BROOKFIELD Corp ON

BROOKFIELD Corp ON reduced its position in Clearway Energy, Inc. (NYSE:CWEN) by 36.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,371 shares of the company’s stock after selling 52,562 shares during the quarter. BROOKFIELD Corp ON’s holdings in Clearway Energy were worth $3,590,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CWEN. 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 acquiring an additional 412 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Clearway Energy by 280.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after acquiring an additional 705 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Clearway Energy by 201.9% in the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Clearway Energy by 94.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after purchasing an additional 600 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Clearway Energy in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Price Performance

CWEN opened at $32.11 on Monday. The company has a fifty day simple moving average of $36.47 and a 200 day simple moving average of $37.54. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 803.00 and a beta of 0.89. Clearway Energy, Inc. has a twelve month low of $27.67 and a twelve month high of $41.74. 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 (NYSE:CWEN) last issued its quarterly earnings data 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 return on equity of 0.04% and a net margin of 0.13%.The firm had revenue of $354.00 million during the quarter, compared to analyst estimates of $340.75 million. Equities research analysts expect that Clearway Energy, Inc. will post -1.01 EPS for the current fiscal year.

Clearway Energy Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CWEN. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a report on Friday, July 17th. Weiss Ratings downgraded shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Morgan Stanley increased their price objective on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Clearway Energy in a report on Thursday, April 9th. Finally, Truist Financial started coverage on Clearway Energy in a report on Monday, July 13th. They issued a “buy” rating and a $43.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.