Flputnam Investment Management Co. Trims Stake in Clearway Energy, Inc. (NYSE:CWEN)

Flputnam Investment Management Co. decreased its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 82.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 13,555 shares of the company’s stock after selling 64,862 shares during the period. Flputnam Investment Management Co.’s holdings in Clearway Energy were worth $352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Clearway Energy during the 3rd quarter valued at $50,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Clearway Energy during the third quarter valued at $71,000. Icon Wealth Advisors LLC bought a new position in shares of Clearway Energy in the third quarter worth about $106,000. Quarry LP grew its holdings in shares of Clearway Energy by 51.6% in the third quarter. Quarry LP now owns 3,671 shares of the company’s stock worth $113,000 after purchasing an additional 1,249 shares during the last quarter. Finally, Recurrent Investment Advisors LLC purchased a new position in Clearway Energy in the 3rd quarter worth about $202,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CWEN shares. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Roth Mkm reiterated a “buy” rating and issued a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.17.

Insider Transactions at Clearway Energy

In other news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the sale, the director now directly owns 8,153 shares in the company, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Clearway Energy Trading Down 2.7 %

NYSE CWEN opened at $27.25 on Tuesday. Clearway Energy, Inc. has a one year low of $20.63 and a one year high of $30.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.75 and a beta of 0.88. The company’s 50-day simple moving average is $26.18 and its two-hundred day simple moving average is $27.51.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The business had revenue of $256.00 million for the quarter, compared to the consensus estimate of $299.73 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Equities analysts forecast 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 Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.4312 dividend. The ex-dividend date is Monday, March 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.33%. Clearway Energy’s dividend payout ratio (DPR) is currently 229.33%.

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.