Clearway Energy, Inc. (NYSE:CWEN) Stake Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 45.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 70,529 shares of the company’s stock after selling 58,133 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Clearway Energy were worth $1,741,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tidal Investments LLC grew its stake in Clearway Energy by 74.5% during the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $1,191,000 after buying an additional 22,059 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Clearway Energy during the first quarter valued at approximately $1,010,000. Qsemble Capital Management LP bought a new stake in shares of Clearway Energy during the first quarter valued at approximately $516,000. Friedenthal Financial acquired a new position in shares of Clearway Energy during the second quarter worth approximately $712,000. Finally, First Trust Advisors LP grew its stake in shares of Clearway Energy by 4.3% in the fourth quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock worth $25,032,000 after purchasing an additional 38,032 shares in the last quarter. 38.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Clearway Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.71.

Clearway Energy Stock Performance

Shares of CWEN opened at $29.96 on Wednesday. Clearway Energy, Inc. has a one year low of $18.59 and a one year high of $30.35. The company has a 50-day moving average of $28.05 and a two-hundred day moving average of $25.85. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 45.39, a PEG ratio of 2.24 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.23). The firm 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 company’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, equities research analysts expect that Clearway Energy, Inc. will post 0.9 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.417 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, September 3rd. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.57%. Clearway Energy’s dividend payout ratio is currently 251.52%.

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.