Beach Investment Counsel Inc. PA Lowers Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Beach Investment Counsel Inc. PA decreased its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,328 shares of the company’s stock after selling 11,938 shares during the quarter. Clearway Energy makes up approximately 1.8% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 18th largest holding. Beach Investment Counsel Inc. PA’s holdings in Clearway Energy were worth $12,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CWEN. Mascoma Wealth Management LLC acquired a new position in shares of Clearway Energy in the 4th quarter valued at about $28,000. New Age Alpha Advisors LLC acquired a new position in shares of Clearway Energy in the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. acquired a new position in shares of Clearway Energy in the 4th quarter valued at about $51,000. Quarry LP lifted its stake in shares of Clearway Energy by 48.6% in the 4th quarter. Quarry LP now owns 5,454 shares of the company’s stock valued at $142,000 after purchasing an additional 1,783 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Clearway Energy in the 4th quarter valued at about $166,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CWEN. Wall Street Zen lowered Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Roth Mkm reissued a “buy” rating and set a $34.00 price target (up from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Clearway Energy in a research report on Tuesday, March 25th. They set a “buy” rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

Clearway Energy Stock Performance

Shares of CWEN opened at $30.54 on Friday. The business’s 50 day moving average is $29.23 and its two-hundred day moving average is $27.97. Clearway Energy, Inc. has a 52-week low of $24.02 and a 52-week high of $31.09. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 1.75 and a beta of 0.87. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.28. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. During the same period in the prior year, the company posted ($0.02) EPS. Clearway Energy’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.4384 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.74%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.43. The ex-dividend date is Monday, June 2nd. Clearway Energy’s dividend payout ratio is presently 218.75%.

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.