Congress Asset Management Co. MA Cuts Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

Congress Asset Management Co. MA decreased its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,539 shares of the company’s stock after selling 14,659 shares during the quarter. Congress Asset Management Co. MA owned about 0.10% of Clearway Energy worth $5,391,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in Clearway Energy in the 4th quarter worth approximately $25,000. Avalon Trust Co purchased a new position in shares of Clearway Energy in the fourth quarter worth $47,000. Kingswood Wealth Advisors LLC bought a new position in shares of Clearway Energy during the fourth quarter valued at $175,000. Xponance Inc. purchased a new stake in shares of Clearway Energy during the fourth quarter valued at $214,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Clearway Energy in the 4th quarter worth about $221,000. 38.03% of the stock is owned by institutional investors.

Clearway Energy Trading Down 0.4 %

Shares of NYSE:CWEN opened at $26.60 on Monday. The stock has a 50 day moving average of $25.41 and a 200 day moving average of $24.64. The company has a market cap of $5.38 billion, a PE ratio of 40.30 and a beta of 0.89. Clearway Energy, Inc. has a 12-month low of $18.59 and a 12-month high of $30.35. The company has a current ratio of 1.71, a quick ratio of 1.65 and a debt-to-equity ratio of 1.50.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.25. The business had revenue of $263.00 million during the quarter, compared to analyst estimates of $286.26 million. Clearway Energy had a net margin of 5.97% and a return on equity of 1.67%. Clearway Energy’s revenue was down 8.7% on a year-over-year basis. As a group, equities research analysts expect that Clearway Energy, Inc. will post 1.01 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend is Monday, June 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio is presently 248.49%.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Se Totalenergies acquired 196,964 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was purchased at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the purchase, the director now directly owns 295,235 shares in the company, valued at approximately $6,749,072.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.55% of the company’s stock.

Wall Street Analysts Forecast Growth

CWEN has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, March 1st. Royal Bank of Canada cut their price objective on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a report on Tuesday, February 27th. Marathon Capitl reiterated an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Finally, Roth Mkm increased their price objective on shares of Clearway Energy from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Clearway Energy Company 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.