Clearway Energy, Inc. (NYSE:CWEN) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. lessened its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 82.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new stake in shares of Clearway Energy during the third quarter worth about $3,532,000. Hancock Whitney Corp purchased a new stake in shares of Clearway Energy during the third quarter worth about $1,486,000. National Bank of Canada FI grew its stake in shares of Clearway Energy by 1,778.8% during the third quarter. National Bank of Canada FI now owns 30,907 shares of the company's stock worth $948,000 after acquiring an additional 29,262 shares during the last quarter. abrdn plc grew its stake in shares of Clearway Energy by 30.7% during the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock worth $15,761,000 after acquiring an additional 141,500 shares during the last quarter. Finally, ABC Arbitrage SA purchased a new stake in shares of Clearway Energy during the fourth quarter worth about $325,000. Hedge funds and other institutional investors own 84.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Mkm restated a "buy" rating and set a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. StockNews.com upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.17.

Clearway Energy Stock Performance

Shares of Clearway Energy stock traded up $0.62 on Wednesday, reaching $27.40. 648,479 shares of the stock were exchanged, compared to its average volume of 843,464. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a twelve month low of $20.63 and a twelve month high of $30.92. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.75 and a beta of 0.91. The business has a 50 day moving average price of $26.20 and a two-hundred day moving average price of $27.49.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings results 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). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $256.00 million during the quarter, compared to analyst estimates of $299.73 million. Analysts anticipate that Clearway Energy, Inc. will post 0.83 earnings per share 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. Shareholders 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 yield of 6.29%. Clearway Energy's payout ratio is presently 229.33%.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the company's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the completion of the transaction, the director now directly owns 8,153 shares in the company, valued at approximately $218,011.22. This represents a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

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.