Principal Street Partners LLC Reduces Position in Clearway Energy, Inc. (NYSE:CWEN)

Principal Street Partners LLC decreased its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 23.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 206,794 shares of the company’s stock after selling 61,870 shares during the period. Clearway Energy makes up 1.0% of Principal Street Partners LLC’s portfolio, making the stock its 27th largest holding. Principal Street Partners LLC’s holdings in Clearway Energy were worth $6,343,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC raised its holdings in shares of Clearway Energy by 74.5% during the first 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. Friedenthal Financial bought a new stake in Clearway Energy in the 2nd quarter worth approximately $712,000. Edgestream Partners L.P. purchased a new stake in Clearway Energy during the 2nd quarter valued at $3,643,000. 1832 Asset Management L.P. bought a new position in shares of Clearway Energy during the 2nd quarter valued at $32,310,000. Finally, Entropy Technologies LP purchased a new position in shares of Clearway Energy in the 3rd quarter worth $1,026,000. Institutional investors own 38.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on CWEN shares. Roth Mkm reiterated a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Jefferies Financial Group initiated coverage on Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 price target for the company. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. BNP Paribas assumed coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price for the company. Finally, CIBC upped their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Trading Up 2.4 %

Shares of NYSE:CWEN opened at $29.40 on Tuesday. The stock has a 50 day moving average of $28.21 and a 200 day moving average of $27.42. The company has a market cap of $5.94 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. Clearway Energy, Inc. has a 12-month low of $20.63 and a 12-month high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. As a group, equities research analysts expect that Clearway Energy, Inc. will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Monday, December 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is presently 160.58%.

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.