Clearway Energy, Inc. (NYSE:CWEN) Holdings Lowered by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP lowered its stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 38.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,327 shares of the company's stock after selling 101,260 shares during the quarter. Kayne Anderson Capital Advisors LP owned approximately 0.08% of Clearway Energy worth $5,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. ING Groep NV acquired a new position in Clearway Energy during the 3rd quarter worth $229,000. Plato Investment Management Ltd bought a new position in shares of Clearway Energy during the third quarter worth about $245,000. Oppenheimer & Co. Inc. grew its stake in Clearway Energy by 13.3% in the third quarter. Oppenheimer & Co. Inc. now owns 10,722 shares of the company's stock worth $329,000 after purchasing an additional 1,260 shares in the last quarter. Entropy Technologies LP bought a new stake in Clearway Energy in the third quarter valued at about $1,026,000. Finally, Ashton Thomas Securities LLC acquired a new stake in Clearway Energy during the third quarter valued at approximately $50,000. Institutional investors own 38.03% of the company's stock.

Clearway Energy Stock Performance

Shares of NYSE CWEN traded up $0.01 during midday trading on Monday, reaching $27.57. 600,938 shares of the company traded hands, compared to its average volume of 871,023. The stock has a 50-day moving average price of $28.23 and a 200 day moving average price of $27.33. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 2.44 and a beta of 0.87. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy, Inc. has a 52 week low of $20.63 and a 52 week high of $30.92.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The company had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company's revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the business earned $0.03 earnings per share. Sell-side analysts anticipate that Clearway Energy, Inc. will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date is Monday, December 2nd. Clearway Energy's payout ratio is presently 162.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com lowered Clearway Energy from a "hold" rating to a "sell" rating in a research report on Thursday. Morgan Stanley upgraded shares of Clearway Energy from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. CIBC raised their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an "outperformer" rating in a research report on Tuesday, October 22nd. Roth Mkm reaffirmed a "buy" rating and set a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Finally, BNP Paribas initiated coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Clearway Energy has an average rating of "Moderate Buy" and a consensus target price of $33.13.

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.