AGF Management Ltd. Has $883,000 Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

AGF Management Ltd. trimmed its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 32.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,920 shares of the company’s stock after selling 14,566 shares during the quarter. AGF Management Ltd.’s holdings in Clearway Energy were worth $883,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Credit Agricole S A acquired a new position in shares of Clearway Energy in the 2nd quarter worth approximately $30,000. HBC Financial Services PLLC acquired a new position in shares of Clearway Energy in the 1st quarter worth approximately $37,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Clearway Energy in the 1st quarter worth approximately $110,000. Macquarie Group Ltd. boosted its holdings in shares of Clearway Energy by 31.0% in the 2nd quarter. Macquarie Group Ltd. now owns 3,272 shares of the company’s stock worth $114,000 after acquiring an additional 775 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in shares of Clearway Energy in the 2nd quarter worth approximately $123,000. 33.94% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

CWEN stock opened at $22.67 on Friday. The business’s fifty day moving average is $22.29 and its 200-day moving average is $25.85. The company has a quick ratio of 1.99, a current ratio of 2.05 and a debt-to-equity ratio of 1.65. The company has a market cap of $4.58 billion, a P/E ratio of 49.28 and a beta of 0.76. Clearway Energy, Inc. has a twelve month low of $18.59 and a twelve month high of $36.25.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.3964 dividend. The ex-dividend date is Thursday, November 30th. This represents a $1.59 dividend on an annualized basis and a dividend yield of 6.99%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.39. Clearway Energy’s dividend payout ratio is 339.13%.

Wall Street Analysts Forecast Growth

CWEN has been the topic of several recent analyst reports. Oppenheimer reduced their target price on Clearway Energy from $38.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 12th. Evercore ISI dropped their price objective on shares of Clearway Energy from $34.00 to $27.00 in a research report on Monday, October 2nd. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Monday, November 13th. Roth Mkm dropped their price objective on shares of Clearway Energy from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Finally, TheStreet cut shares of Clearway Energy from a “b-” rating to a “c” rating in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

Clearway Energy Company Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional, Renewables, and Thermal segments. It has approximately 5,500 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities.