Principal Street Partners LLC Sells 61,870 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Principal Street Partners LLC cut its position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 23.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 206,794 shares of the company's stock after selling 61,870 shares during the quarter. Clearway Energy makes up 1.0% of Principal Street Partners LLC's investment portfolio, making the stock its 27th largest position. Principal Street Partners LLC owned about 0.10% of Clearway Energy worth $6,343,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Abich Financial Wealth Management LLC lifted its stake in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company's stock worth $43,000 after purchasing an additional 625 shares during the last quarter. Whittier Trust Co. lifted its position in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company's stock valued at $50,000 after purchasing an additional 512 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in Clearway Energy during the 3rd quarter valued at about $50,000. Quarry LP grew its position in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company's stock worth $60,000 after purchasing an additional 843 shares during the last quarter. Finally, nVerses Capital LLC increased its stake in shares of Clearway Energy by 34.0% in the third quarter. nVerses Capital LLC now owns 6,700 shares of the company's stock valued at $206,000 after purchasing an additional 1,700 shares during the period. Hedge funds and other institutional investors own 38.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CWEN shares. CIBC increased their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the company an "outperformer" rating in a research report on Tuesday, October 22nd. Morgan Stanley upgraded Clearway Energy from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. StockNews.com upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a research report on Friday. BNP Paribas assumed coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an "outperform" rating and a $36.00 target price for the company. Finally, Roth Mkm restated a "buy" rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $33.13.

Clearway Energy Stock Up 3.2 %

Shares of CWEN traded up $0.92 during mid-day trading on Tuesday, hitting $29.62. 802,418 shares of the company's stock were exchanged, compared to its average volume of 869,162. 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 fifty day moving average of $28.19 and a two-hundred day moving average of $27.44. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.51 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results 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). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same quarter last year, the company posted $0.03 EPS. The business's revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts forecast that Clearway Energy, Inc. will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.424 dividend. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 5.73%. Clearway Energy's dividend payout ratio is presently 160.58%.

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.