Van ECK Associates Corp Trims Stake in Clearway Energy, Inc. (NYSE:CWEN)

Van ECK Associates Corp decreased its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 62,947 shares of the company’s stock after selling 1,905 shares during the period. Van ECK Associates Corp’s holdings in Clearway Energy were worth $1,637,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CWEN. Ashton Thomas Securities LLC bought a new stake in shares of Clearway Energy in the 3rd quarter worth approximately $50,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Clearway Energy in the 3rd quarter worth approximately $71,000. Icon Wealth Advisors LLC bought a new stake in shares of Clearway Energy in the 3rd quarter worth approximately $106,000. Quarry LP boosted its position in shares of Clearway Energy by 51.6% in the 3rd quarter. Quarry LP now owns 3,671 shares of the company’s stock worth $113,000 after purchasing an additional 1,249 shares in the last quarter. Finally, Recurrent Investment Advisors LLC bought a new stake in shares of Clearway Energy in the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Price Performance

NYSE CWEN opened at $27.42 on Friday. The business’s fifty day moving average price is $26.05 and its 200-day moving average price is $27.57. The stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.73 and a beta of 0.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.4312 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.29%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 3rd. Clearway Energy’s dividend payout ratio is presently 163.46%.

Analyst Ratings Changes

Separately, StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and a consensus target price of $32.57.

Insider Activity

In other news, Director Brian R. Ford sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now directly owns 8,153 shares of the company’s stock, valued at $218,011.22. This represents a 19.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.52% of the company’s stock.

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.