Pacer Advisors Inc. Sells 75,637 Shares of Clearway Energy, Inc. $CWEN

Pacer Advisors Inc. decreased its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 9.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 697,000 shares of the company’s stock after selling 75,637 shares during the quarter. Pacer Advisors Inc.’s holdings in Clearway Energy were worth $19,690,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Walleye Capital LLC lifted its position in shares of Clearway Energy by 225.6% in the first quarter. Walleye Capital LLC now owns 31,318 shares of the company’s stock valued at $948,000 after acquiring an additional 56,245 shares in the last quarter. Walleye Trading LLC raised its stake in Clearway Energy by 259.1% during the 1st quarter. Walleye Trading LLC now owns 11,024 shares of the company’s stock valued at $334,000 after purchasing an additional 7,954 shares during the period. Evergreen Capital Management LLC purchased a new position in Clearway Energy in the 1st quarter worth approximately $314,000. Ardsley Advisory Partners LP purchased a new position in Clearway Energy in the 1st quarter worth approximately $1,514,000. Finally, Hancock Whitney Corp boosted its stake in Clearway Energy by 13.3% in the 1st quarter. Hancock Whitney Corp now owns 68,193 shares of the company’s stock worth $2,064,000 after purchasing an additional 8,016 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analysts Set New Price Targets

CWEN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, October 8th. Roth Capital lifted their price target on shares of Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 24th. Cibc Captl Mkts upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Finally, CIBC upgraded Clearway Energy from a “neutral” rating to a “sector outperform” rating and raised their price objective for the company from $37.00 to $38.00 in a research report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.25.

Clearway Energy Price Performance

Clearway Energy stock opened at $33.18 on Friday. Clearway Energy, Inc. has a 52-week low of $24.40 and a 52-week high of $36.89. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. The firm’s fifty day moving average is $33.83 and its 200 day moving average is $31.79. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.38 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The business had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $427.72 million. During the same period last year, the company posted $0.31 EPS. The business’s revenue was down 11.7% on a year-over-year basis. Sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.4528 per share. The ex-dividend date of this dividend was Monday, December 1st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a yield of 5.5%. Clearway Energy’s payout ratio is presently 77.35%.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.