Victory Capital Management Inc. Lowers Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Victory Capital Management Inc. reduced its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 60.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 170,335 shares of the company’s stock after selling 257,471 shares during the period. Victory Capital Management Inc. owned about 0.08% of Clearway Energy worth $4,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. raised its stake in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after acquiring an additional 625 shares in the last quarter. Fulton Bank N.A. raised its stake in shares of Clearway Energy by 7.1% in the first quarter. Fulton Bank N.A. now owns 10,410 shares of the company’s stock valued at $240,000 after acquiring an additional 688 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Clearway Energy in the fourth quarter valued at $25,000. Finally, Mather Group LLC. acquired a new stake in shares of Clearway Energy in the first quarter valued at $37,000. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Price Performance

Shares of CWEN opened at $29.33 on Tuesday. Clearway Energy, Inc. has a twelve month low of $18.59 and a twelve month high of $29.48. The stock’s 50 day moving average is $27.43 and its two-hundred day moving average is $25.48. The firm has a market capitalization of $5.93 billion, a PE ratio of 44.32, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 1.19.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The business had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $424.59 million. During the same period in the prior year, the firm posted $0.33 EPS. Clearway Energy’s revenue for the quarter was down 9.9% compared to the same quarter last year. Research analysts anticipate that Clearway Energy, Inc. will post 0.9 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.417 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 5.69%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, September 3rd. Clearway Energy’s dividend payout ratio (DPR) is presently 253.03%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Roth Mkm restated a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

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.