Nordea Investment Management AB Sells 32,695 Shares of Clearway Energy, Inc. $CWEN

Nordea Investment Management AB reduced its position in Clearway Energy, Inc. (NYSE:CWEN) by 10.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,540 shares of the company’s stock after selling 32,695 shares during the quarter. Nordea Investment Management AB owned approximately 0.15% of Clearway Energy worth $9,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Ballentine Partners LLC grew its stake in shares of Clearway Energy by 2.3% during the 3rd quarter. Ballentine Partners LLC now owns 16,763 shares of the company’s stock worth $474,000 after acquiring an additional 371 shares during the period. Measured Risk Portfolios Inc. raised its stake in Clearway Energy by 0.6% in the 3rd quarter. Measured Risk Portfolios Inc. now owns 79,228 shares of the company’s stock valued at $2,238,000 after acquiring an additional 469 shares during the period. James Investment Research Inc. raised its stake in Clearway Energy by 6.3% in the 3rd quarter. James Investment Research Inc. now owns 7,966 shares of the company’s stock valued at $225,000 after acquiring an additional 473 shares during the period. CW Advisors LLC lifted its holdings in Clearway Energy by 3.6% during the second quarter. CW Advisors LLC now owns 15,185 shares of the company’s stock valued at $486,000 after purchasing an additional 525 shares during the last quarter. Finally, Abundance Wealth Counselors lifted its holdings in Clearway Energy by 1.5% during the third quarter. Abundance Wealth Counselors now owns 39,760 shares of the company’s stock valued at $1,123,000 after purchasing an additional 602 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Down 0.3%

Shares of NYSE CWEN opened at $39.15 on Thursday. Clearway Energy, Inc. has a 52 week low of $25.63 and a 52 week high of $41.51. The business has a 50-day simple moving average of $38.07 and a two-hundred day simple moving average of $34.37. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 1.36. The company has a market cap of $8.03 billion, a P/E ratio of 27.57, a P/E/G ratio of 2.71 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Monday, February 23rd. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.68). Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. The company had revenue of $310.00 million for the quarter, compared to the consensus estimate of $334.42 million. During the same quarter in the prior year, the company earned ($0.41) earnings per share. Research analysts anticipate that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a dividend of $0.4602 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, March 2nd. Clearway Energy’s dividend payout ratio is presently 129.58%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CWEN shares. Royal Bank Of Canada lifted their target price on shares of Clearway Energy from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 24th. Canadian Imperial Bank of Commerce upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $37.00 to $38.00 in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, January 21st. UBS Group set a $45.00 price objective on shares of Clearway Energy in a research note on Tuesday, February 24th. Finally, Wall Street Zen cut shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.50.

Clearway Energy Profile

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.