Meeder Asset Management Inc. Lowers Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Key Points

• Meeder Asset Management Inc. reduced its stake in Clearway Energy, Inc. by 50.8% in Q1, selling 29,605 shares and holding 28,678 shares worth $868,000.
• Clearway Energy reported a net margin of 6.69% and earnings of $0.03 EPS, exceeding the consensus estimate of ($0.25).
• The company announced a quarterly dividend of $0.4384 per share, marking an increase from its previous dividend, resulting in a 5.52% yield.

Meeder Asset Management Inc. lessened its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 50.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,678 shares of the company's stock after selling 29,605 shares during the quarter. Meeder Asset Management Inc.'s holdings in Clearway Energy were worth $868,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Clearway Energy during the 1st quarter valued at approximately $27,000. New Age Alpha Advisors LLC bought a new position in shares of Clearway Energy in the 4th quarter worth $31,000. Tsfg LLC bought a new position in Clearway Energy during the 1st quarter valued at $61,000. NBT Bank N A NY bought a new stake in shares of Clearway Energy in the 1st quarter worth $71,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Clearway Energy by 48.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company's stock worth $89,000 after purchasing an additional 966 shares during the period. Institutional investors and hedge funds own 84.53% of the company's stock.

Clearway Energy Trading Down 0.6%

NYSE:CWEN traded down $0.20 during trading hours on Friday, hitting $32.43. The company had a trading volume of 626,671 shares, compared to its average volume of 734,940. The company has a 50-day moving average of $31.69 and a 200 day moving average of $29.31. Clearway Energy, Inc. has a 1 year low of $24.40 and a 1 year high of $33.22. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33. The company has a market cap of $6.56 billion, a P/E ratio of 40.54, a P/E/G ratio of 0.82 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.28. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. The business had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. During the same quarter last year, the company earned ($0.02) EPS. The business's quarterly revenue was up 13.3% on a year-over-year basis. Sell-side analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on CWEN. CIBC cut Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price on the stock. in a research note on Saturday, July 19th. Jefferies Financial Group lifted their target price on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Cibc World Mkts downgraded shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $36.40.

Clearway Energy 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.