Principal Street Partners LLC Acquires 36,908 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Principal Street Partners LLC raised its position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 21.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,573 shares of the company's stock after acquiring an additional 36,908 shares during the quarter. Clearway Energy makes up approximately 1.4% of Principal Street Partners LLC's portfolio, making the stock its 15th biggest position. Principal Street Partners LLC owned 0.11% of Clearway Energy worth $5,831,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Avalon Trust Co acquired a new position in Clearway Energy during the 4th quarter worth $47,000. Kingswood Wealth Advisors LLC acquired a new stake in Clearway Energy in the fourth quarter valued at approximately $175,000. Xponance Inc. purchased a new position in Clearway Energy in the fourth quarter worth approximately $214,000. Kestra Private Wealth Services LLC acquired a new position in Clearway Energy during the 4th quarter worth approximately $221,000. Finally, Silvia Mccoll Wealth Management LLC purchased a new stake in shares of Clearway Energy in the 4th quarter valued at approximately $239,000. 38.03% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Price Performance

Clearway Energy stock traded up $0.57 during mid-day trading on Friday, reaching $27.06. The company had a trading volume of 1,347,042 shares, compared to its average volume of 885,094. The stock's 50-day simple moving average is $22.89 and its 200-day simple moving average is $23.81. Clearway Energy, Inc. has a 1 year low of $18.59 and a 1 year high of $31.72. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.71 and a quick ratio of 1.66. The company has a market capitalization of $5.47 billion, a P/E ratio of 41.01 and a beta of 0.86.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.25. Clearway Energy had a return on equity of 1.67% and a net margin of 5.97%. The business had revenue of $263.00 million during the quarter, compared to analysts' expectations of $286.26 million. The business's quarterly revenue was down 8.7% on a year-over-year basis. On average, equities analysts predict that Clearway Energy, Inc. will post 0.92 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a dividend of $0.41 per share. This is an increase from Clearway Energy's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.64 annualized dividend and a dividend yield of 6.06%. Clearway Energy's dividend payout ratio is presently 243.94%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CWEN. Marathon Capitl reiterated an "equal weight" rating on shares of Clearway Energy in a research note on Tuesday, March 26th. Royal Bank of Canada decreased their target price on Clearway Energy from $26.00 to $25.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 27th. StockNews.com lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday, March 1st. Morgan Stanley raised their price objective on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Friday, March 1st. Finally, Oppenheimer upped their target price on shares of Clearway Energy from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $28.33.

Insider Activity

In related news, Director Se Totalenergies acquired 196,964 shares of the business's stock in a transaction dated Thursday, March 28th. The shares were acquired at an average cost of $22.86 per share, for a total transaction of $4,502,597.04. Following the acquisition, the director now directly owns 295,235 shares in the company, valued at approximately $6,749,072.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.52% of the company's stock.

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.