First National Trust Co Cuts Stake in Clearway Energy, Inc. (NYSE:CWEN)

First National Trust Co trimmed its stake in Clearway Energy, Inc. (NYSE:CWEN) by 20.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,959 shares of the company’s stock after selling 7,060 shares during the quarter. First National Trust Co’s holdings in Clearway Energy were worth $827,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fulton Bank N.A. raised its holdings in shares of Clearway Energy by 3.8% in the 3rd quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock worth $374,000 after purchasing an additional 449 shares during the period. Whittier Trust Co. lifted its position in Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of Clearway Energy by 5.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock worth $302,000 after acquiring an additional 654 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of 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 acquiring an additional 699 shares during the period. Institutional investors and hedge funds own 38.03% of the company’s stock.

Clearway Energy Stock Performance

Shares of Clearway Energy stock opened at $26.69 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The firm’s 50-day simple moving average is $28.26 and its 200-day simple moving average is $27.22. The firm has a market cap of $5.40 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 2.47 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same period in the prior year, the business earned $0.03 EPS. The company’s quarterly revenue was up 31.0% on a year-over-year basis. Equities analysts forecast that Clearway Energy, Inc. will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 annualized dividend and a yield of 6.35%. Clearway Energy’s payout ratio is presently 160.58%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Jefferies Financial Group assumed coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. CIBC boosted their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, BNP Paribas began coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearway Energy 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.