WBI Investments LLC Has $434,000 Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

WBI Investments LLC lowered its stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 83.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,710 shares of the company's stock after selling 85,945 shares during the quarter. WBI Investments LLC's holdings in Clearway Energy were worth $434,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ballentine Partners LLC boosted its position in Clearway Energy by 5.2% during the 4th quarter. Ballentine Partners LLC now owns 15,916 shares of the company's stock worth $414,000 after acquiring an additional 787 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Clearway Energy by 4.6% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 498,000 shares of the company's stock worth $12,948,000 after acquiring an additional 22,000 shares during the period. abrdn plc boosted its position in Clearway Energy by 30.7% during the 4th 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 period. Spirit of America Management Corp NY boosted its position in Clearway Energy by 84.6% during the 4th quarter. Spirit of America Management Corp NY now owns 12,550 shares of the company's stock worth $326,000 after acquiring an additional 5,750 shares during the period. Finally, Apollon Wealth Management LLC acquired a new position in Clearway Energy during the 4th quarter worth $221,000. Institutional investors and hedge funds own 84.53% of the company's stock.

Analysts Set New Price Targets

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

Clearway Energy Price Performance

Shares of Clearway Energy stock traded up $1.20 during trading on Friday, hitting $30.50. The stock had a trading volume of 978,007 shares, compared to its average volume of 878,743. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The firm has a market cap of $6.17 billion, a P/E ratio of 29.32, a PEG ratio of 1.75 and a beta of 0.89. The business has a fifty day moving average of $29.15 and a two-hundred day moving average of $27.77. Clearway Energy, Inc. has a fifty-two week low of $24.02 and a fifty-two week high of $31.09.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.28. The company had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) earnings per share. On average, sell-side analysts expect that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced 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. The ex-dividend date is Monday, June 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 dividend on an annualized basis and a dividend yield of 5.75%. Clearway Energy's payout ratio 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.