Holocene Advisors LP Has $1.31 Million Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Holocene Advisors LP reduced its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 23.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 42,844 shares of the company’s stock after selling 13,365 shares during the period. Holocene Advisors LP’s holdings in Clearway Energy were worth $1,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fulton Bank N.A. boosted its holdings in Clearway Energy by 3.8% during the third quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock valued at $374,000 after purchasing an additional 449 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after buying an additional 512 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of Clearway Energy by 5.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock worth $302,000 after buying an additional 654 shares during the period. Congress Asset Management Co. boosted its stake in Clearway Energy by 0.4% in the 3rd quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock valued at $5,806,000 after buying an additional 699 shares in the last quarter. Finally, Quarry LP grew its position in Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after acquiring an additional 843 shares during the period. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Stock Performance

Shares of Clearway Energy stock opened at $28.24 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The firm has a 50 day simple moving average of $28.05 and a 200 day simple moving average of $27.55. Clearway Energy, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The firm has a market cap of $5.71 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.28 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. During the same period last year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. Sell-side analysts predict that Clearway Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy’s payout ratio is currently 163.46%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CWEN. Jefferies Financial Group initiated coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 target price on the stock. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. BNP Paribas initiated coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price for the company. Finally, CIBC boosted their target price on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

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.