Foresight Group Ltd Liability Partnership Sells 45,101 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Foresight Group Ltd Liability Partnership cut its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 582,614 shares of the company’s stock after selling 45,101 shares during the quarter. Clearway Energy accounts for 7.5% of Foresight Group Ltd Liability Partnership’s investment portfolio, making the stock its 6th largest position. Foresight Group Ltd Liability Partnership’s holdings in Clearway Energy were worth $17,875,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of Clearway Energy by 74.5% in the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after purchasing an additional 22,059 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of Clearway Energy in the 1st quarter valued at approximately $1,010,000. Qsemble Capital Management LP purchased a new stake in shares of Clearway Energy in the 1st quarter valued at approximately $516,000. Friedenthal Financial purchased a new stake in shares of Clearway Energy in the 2nd quarter valued at approximately $712,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Clearway Energy in the 1st quarter valued at approximately $747,000. 38.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CWEN shares. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. Roth Mkm restated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective on the stock. Finally, CIBC lifted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Clearway Energy has a consensus rating of “Moderate Buy” and a consensus price target of $33.13.

Clearway Energy Stock Up 0.4 %

CWEN stock opened at $26.83 on Wednesday. The company has a market cap of $5.42 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.30 and a beta of 0.86. Clearway Energy, Inc. has a 52 week low of $20.63 and a 52 week high of $30.92. The company’s 50-day moving average price is $28.74 and its 200 day moving average price is $26.77. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 1.19.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). The company had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. On average, research analysts expect that Clearway Energy, Inc. will post 0.85 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were issued a $0.417 dividend. This represents a $1.67 annualized dividend and a dividend yield of 6.22%. The ex-dividend date was Tuesday, September 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio is 219.74%.

About Clearway Energy

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.