Tortoise Capital Advisors L.L.C. Sells 21,871 Shares of Clearway Energy, Inc. $CWEN

Tortoise Capital Advisors L.L.C. reduced its stake in Clearway Energy, Inc. (NYSE:CWEN) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,777,047 shares of the company’s stock after selling 21,871 shares during the quarter. Clearway Energy comprises 1.0% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 19th largest position. Tortoise Capital Advisors L.L.C. owned 1.37% of Clearway Energy worth $84,061,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Prudent Man Advisors LLC increased its holdings in shares of Clearway Energy by 2.0% during the first quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company’s stock worth $794,000 after purchasing an additional 516 shares during the period. Monetary Management Group Inc. increased its holdings in shares of Clearway Energy by 4.3% during the first quarter. Monetary Management Group Inc. now owns 14,400 shares of the company’s stock worth $436,000 after purchasing an additional 600 shares during the period. Alps Advisors Inc. increased its holdings in shares of Clearway Energy by 0.5% during the first quarter. Alps Advisors Inc. now owns 169,464 shares of the company’s stock worth $5,130,000 after purchasing an additional 862 shares during the period. Alpine Bank Wealth Management bought a new position in shares of Clearway Energy during the first quarter worth approximately $27,000. Finally, Ballentine Partners LLC increased its holdings in shares of Clearway Energy by 5.8% during the first quarter. Ballentine Partners LLC now owns 16,835 shares of the company’s stock worth $510,000 after purchasing an additional 919 shares during the period. 84.53% of the stock is owned by institutional investors.

Clearway Energy Stock Performance

NYSE CWEN opened at $29.7560 on Friday. The firm’s fifty day moving average price is $31.56 and its two-hundred day moving average price is $29.73. The stock has a market cap of $6.02 billion, a PE ratio of 45.78, a PEG ratio of 1.03 and a beta of 0.87. Clearway Energy, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $33.22. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.39). The company had revenue of $392.00 million for the quarter, compared to the consensus estimate of $428.33 million. Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. On average, equities analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid a $0.4456 dividend. This represents a $1.78 annualized dividend and a yield of 6.0%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, September 2nd. Clearway Energy’s payout ratio is presently 273.85%.

Wall Street Analyst Weigh In

Several research analysts have commented on CWEN shares. Jefferies Financial Group boosted their price objective on shares of Clearway Energy from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. CIBC downgraded shares of Clearway Energy from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Saturday, July 19th. Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, Cibc World Mkts cut shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.40.

Clearway Energy 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.