WBI Investments LLC Decreases Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

WBI Investments LLC lowered its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 46.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,472 shares of the company’s stock after selling 15,730 shares during the period. WBI Investments LLC’s holdings in Clearway Energy were worth $456,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CWEN. Apollo Management Holdings L.P. grew its stake in shares of Clearway Energy by 38.4% during the 1st quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock valued at $37,924,000 after purchasing an additional 456,197 shares during the period. First Trust Advisors LP increased its holdings in Clearway Energy by 4.3% during the fourth quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock valued at $25,032,000 after buying an additional 38,032 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in Clearway Energy in the fourth quarter worth approximately $9,807,000. Pinebridge Investments L.P. boosted its stake in shares of Clearway Energy by 31.8% during the 4th quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock worth $9,202,000 after acquiring an additional 80,962 shares during the last quarter. Finally, Yaupon Capital Management LP bought a new stake in shares of Clearway Energy during the 1st quarter valued at $7,346,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Price Performance

Shares of Clearway Energy stock opened at $28.99 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. Clearway Energy, Inc. has a 52 week low of $18.59 and a 52 week high of $29.48. The stock’s 50-day simple moving average is $26.80 and its 200-day simple moving average is $25.09. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 43.92 and a beta of 0.85.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The business had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $424.59 million. During the same period in the prior year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. As a group, analysts expect that Clearway Energy, Inc. will post 0.74 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.417 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, September 3rd. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.75%. Clearway Energy’s dividend payout ratio is currently 251.52%.

Analysts Set New Price Targets

CWEN has been the topic of a number of recent research reports. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Evercore ISI increased their target price on shares of Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Clearway Energy has an average rating of “Moderate Buy” and a consensus price target of $31.17.

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.