abrdn plc Sells 800 Shares of Clearway Energy, Inc. (NYSE:CWEN)

abrdn plc lowered its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 342,400 shares of the company’s stock after selling 800 shares during the quarter. abrdn plc owned 0.17% of Clearway Energy worth $9,392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Clearway Energy during the 3rd quarter worth approximately $42,000. Spirit of America Management Corp NY increased its stake in shares of Clearway Energy by 23.3% during the 3rd quarter. Spirit of America Management Corp NY now owns 5,300 shares of the company’s stock worth $112,000 after purchasing an additional 1,000 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Clearway Energy during the 4th quarter worth approximately $175,000. Xponance Inc. purchased a new stake in shares of Clearway Energy during the 4th quarter worth approximately $214,000. Finally, Silvia Mccoll Wealth Management LLC purchased a new position in Clearway Energy in the 4th quarter valued at approximately $239,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Stock Performance

NYSE CWEN opened at $23.14 on Friday. Clearway Energy, Inc. has a 52-week low of $18.59 and a 52-week high of $31.72. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. The company has a market capitalization of $4.68 billion, a P/E ratio of 34.02 and a beta of 0.88. The company has a fifty day moving average of $22.51 and a 200-day moving average of $23.59.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.15. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The company had revenue of $249.00 million during the quarter, compared to the consensus estimate of $282.45 million. During the same period in the previous year, the firm posted $0.10 EPS. The firm’s revenue was down 18.4% compared to the same quarter last year. As a group, equities research analysts predict that Clearway Energy, Inc. will post 0.92 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.403 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.61 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date was Thursday, February 29th. Clearway Energy’s payout ratio is currently 236.76%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Royal Bank of Canada reduced their price objective on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 27th. Oppenheimer lifted their price objective on shares of Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Marathon Capitl reiterated an “equal weight” rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Finally, Morgan Stanley boosted their price target on shares of Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.33.

Insider Transactions at Clearway Energy

In related news, Director Se Totalenergies acquired 196,964 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was bought at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the acquisition, the director now owns 295,235 shares of the company’s stock, valued at approximately $6,749,072.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

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.