Snowden Capital Advisors LLC Sells 62,663 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Snowden Capital Advisors LLC lessened its holdings in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 77.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,990 shares of the company's stock after selling 62,663 shares during the quarter. Snowden Capital Advisors LLC's holdings in Clearway Energy were worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc grew its holdings in Clearway Energy by 4.8% during the fourth quarter. CIBC Asset Management Inc now owns 9,074 shares of the company's stock valued at $236,000 after purchasing an additional 414 shares during the period. Uniplan Investment Counsel Inc. increased its holdings in Clearway Energy by 0.9% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company's stock worth $1,703,000 after acquiring an additional 586 shares during the last quarter. Ballentine Partners LLC raised its stake in Clearway Energy by 5.2% in the 4th quarter. Ballentine Partners LLC now owns 15,916 shares of the company's stock valued at $414,000 after acquiring an additional 787 shares during the period. Mascoma Wealth Management LLC purchased a new stake in Clearway Energy during the fourth quarter valued at about $28,000. Finally, New Age Alpha Advisors LLC bought a new position in Clearway Energy during the fourth quarter worth about $31,000. 84.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Roth Mkm reiterated a "buy" rating and issued a $34.00 price target (up from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research note on Tuesday, March 25th. They set a "buy" rating and a $38.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.50.

Clearway Energy Price Performance

Shares of CWEN traded down $0.01 during mid-day trading on Tuesday, reaching $30.46. 247,456 shares of the stock traded hands, compared to its average volume of 876,284. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. Clearway Energy, Inc. has a 1 year low of $24.02 and a 1 year high of $31.09. The firm has a fifty day moving average price of $29.16 and a 200 day moving average price of $27.79. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.28. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $298.00 million during the quarter, compared to analyst estimates of $305.74 million. During the same quarter last year, the company earned ($0.02) earnings per share. The firm's quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.4384 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's dividend payout ratio (DPR) is 218.75%.

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.