Clearway Energy, Inc. (NYSE:CWEN) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in shares of Clearway Energy, Inc. (NYSE:CWEN – Get Rating) by 13.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 645,326 shares of the company’s stock after selling 96,628 shares during the quarter. First Trust Advisors LP’s holdings in Clearway Energy were worth $20,567,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Cowa LLC acquired a new stake in Clearway Energy during the 3rd quarter worth about $38,000. Van ECK Associates Corp raised its holdings in shares of Clearway Energy by 74.9% during the fourth quarter. Van ECK Associates Corp now owns 1,289 shares of the company’s stock valued at $41,000 after acquiring an additional 552 shares during the period. Phocas Financial Corp. purchased a new stake in shares of Clearway Energy in the 4th quarter valued at approximately $43,000. Belpointe Asset Management LLC acquired a new position in Clearway Energy in the 4th quarter worth approximately $49,000. Finally, Benjamin Edwards Inc. grew its position in Clearway Energy by 109.3% during the 4th quarter. Benjamin Edwards Inc. now owns 1,840 shares of the company’s stock worth $59,000 after purchasing an additional 961 shares in the last quarter. 77.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Infrastructure Investor Global acquired 71,980 shares of the firm’s stock in a transaction that occurred on Friday, March 31st. The stock was acquired at an average cost of $31.15 per share, with a total value of $2,242,177.00. Following the acquisition, the director now owns 172,601 shares in the company, valued at $5,376,521.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CWEN. Oppenheimer dropped their target price on Clearway Energy from $41.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, February 24th. StockNews.com initiated coverage on shares of Clearway Energy in a research note on Thursday. They set a “hold” rating for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.75.

Clearway Energy Stock Performance

Shares of CWEN opened at $29.95 on Monday. The company has a quick ratio of 1.94, a current ratio of 2.02 and a debt-to-equity ratio of 1.63. Clearway Energy, Inc. has a 12 month low of $28.75 and a 12 month high of $41.79. The company’s fifty day moving average is $30.76 and its 200-day moving average is $32.43. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 5.68 and a beta of 0.73.

Clearway Energy (NYSE:CWEN – Get Rating) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.98. The company had revenue of $268.00 million during the quarter, compared to analysts’ expectations of $313.21 million. Clearway Energy had a negative return on equity of 9.85% and a net margin of 48.58%. Equities analysts expect that Clearway Energy, Inc. will post 1.85 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.382 per share. This represents a $1.53 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend is Wednesday, May 31st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.38. Clearway Energy’s dividend payout ratio (DPR) is 28.46%.

About Clearway Energy

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Clearway Energy, Inc engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It operates through the following segments: Conventional Generation, Thermal, Renewable, and Corporate. The Renewable segment include solar and wind business.