Clearway Energy, Inc. $CWEN Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 21.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,423 shares of the company’s stock after selling 24,109 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Clearway Energy were worth $3,435,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CWEN. Lazard Freres Gestion S.A.S. raised its stake in shares of Clearway Energy by 1.4% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 19,770 shares of the company’s stock worth $657,000 after buying an additional 270 shares during the last quarter. Ballentine Partners LLC grew its stake in Clearway Energy by 2.0% in the 4th quarter. Ballentine Partners LLC now owns 17,096 shares of the company’s stock valued at $569,000 after acquiring an additional 333 shares during the last quarter. Courier Capital LLC grew its stake in Clearway Energy by 1.2% in the 4th quarter. Courier Capital LLC now owns 33,193 shares of the company’s stock valued at $1,104,000 after acquiring an additional 385 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in Clearway Energy by 1.4% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,500 shares of the company’s stock valued at $948,000 after acquiring an additional 400 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 412 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings downgraded shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. UBS Group raised their price objective on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Wall Street Zen upgraded Clearway Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a research note on Friday. Finally, Morgan Stanley increased their target price on Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus target price of $43.44.

Clearway Energy Trading Down 0.9%

Shares of CWEN stock opened at $33.47 on Friday. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 836.91 and a beta of 0.89. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average price of $36.91 and a 200 day moving average price of $37.52. Clearway Energy, Inc. has a twelve month low of $27.67 and a twelve month high of $41.74.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.90). The firm had revenue of $354.00 million for the quarter, compared to analyst estimates of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. Research analysts forecast that Clearway Energy, Inc. will post -0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.4676 per share. This represents a $1.87 dividend on an annualized basis and a yield of 5.6%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 1st. Clearway Energy’s dividend payout ratio (DPR) is 4,675.00%.

Clearway Energy Company 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.