King Luther Capital Management Corp Has $17.39 Million Holdings in Clearway Energy, Inc. $CWEN

King Luther Capital Management Corp cut its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 1.2% during the 2nd quarter, Holdings Channel reports. The fund owned 543,280 shares of the company’s stock after selling 6,560 shares during the period. King Luther Capital Management Corp’s holdings in Clearway Energy were worth $17,385,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gotham Asset Management LLC lifted its stake in shares of Clearway Energy by 79.1% in the first quarter. Gotham Asset Management LLC now owns 814,841 shares of the company’s stock valued at $24,665,000 after buying an additional 359,876 shares in the last quarter. Northside Capital Management LLC bought a new position in shares of Clearway Energy in the second quarter valued at approximately $8,847,000. Nordea Investment Management AB increased its position in shares of Clearway Energy by 325.3% during the second quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock valued at $7,747,000 after acquiring an additional 187,861 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Clearway Energy by 135.8% during the first quarter. Pacer Advisors Inc. now owns 273,219 shares of the company’s stock worth $8,270,000 after acquiring an additional 157,331 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Clearway Energy by 56.4% in the first quarter. Victory Capital Management Inc. now owns 274,078 shares of the company’s stock worth $8,296,000 after purchasing an additional 98,876 shares during the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $35.03 on Monday. The company has a 50 day moving average of $30.41 and a 200 day moving average of $30.64. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. The stock has a market cap of $7.08 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.83 and a beta of 0.93. Clearway Energy, Inc. has a 12 month low of $24.40 and a 12 month high of $35.20.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $0.32 by $1.68. The firm had revenue of $429.00 million during the quarter, compared to the consensus estimate of $427.72 million. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The business’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. As a group, sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.4528 dividend. This represents a $1.81 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, December 1st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is 76.07%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CWEN shares. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday. CIBC boosted their target price on shares of Clearway Energy from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Cibc World Mkts cut shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, July 21st. Royal Bank Of Canada assumed coverage on Clearway Energy in a research note on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, Evercore ISI began coverage on shares of Clearway Energy in a research report on Monday, October 6th. They issued an “in-line” rating and a $34.00 price target on the stock. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.71.

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.