Northwest & Ethical Investments L.P. Has $17.35 Million Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Northwest & Ethical Investments L.P. lowered its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 1.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 565,508 shares of the company’s stock after selling 10,354 shares during the quarter. Northwest & Ethical Investments L.P. owned 0.28% of Clearway Energy worth $17,350,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CWEN. Abich Financial Wealth Management LLC increased its position in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after acquiring an additional 625 shares during the period. Whittier Trust Co. grew its position in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Clearway Energy during the 3rd quarter worth about $50,000. Quarry LP raised its position in shares of Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after buying an additional 843 shares during the last quarter. Finally, nVerses Capital LLC raised its position in shares of Clearway Energy by 34.0% during the third quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock valued at $206,000 after buying an additional 1,700 shares during the last quarter. 38.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

CWEN has been the topic of several research reports. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Jefferies Financial Group started coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. CIBC raised their target price on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Roth Mkm reissued a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Finally, BNP Paribas assumed coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Price Performance

NYSE CWEN traded down $0.12 on Thursday, hitting $29.51. 662,642 shares of the company were exchanged, compared to its average volume of 868,267. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.96 billion, a P/E ratio of 28.37, a P/E/G ratio of 2.54 and a beta of 0.87. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92. The firm has a 50 day moving average of $28.20 and a two-hundred day moving average of $27.45.

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

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.424 dividend. This represents a $1.70 annualized dividend and a dividend yield of 5.75%. 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 (DPR) is 160.58%.

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.