Pacer Advisors Inc. Decreases Position in Clearway Energy, Inc. (NYSE:CWEN)

Pacer Advisors Inc. decreased its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 16.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,888 shares of the company’s stock after selling 22,904 shares during the quarter. Pacer Advisors Inc.’s holdings in Clearway Energy were worth $3,013,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CWEN. Ashton Thomas Securities LLC purchased a new stake in Clearway Energy during the third quarter worth $50,000. Quarry LP raised its holdings in shares of Clearway Energy by 53.4% during 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 last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Clearway Energy in the third quarter valued at approximately $71,000. Icon Wealth Advisors LLC purchased a new stake in shares of Clearway Energy during the third quarter worth approximately $106,000. Finally, Recurrent Investment Advisors LLC acquired a new position in Clearway Energy in the 3rd quarter valued at $202,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Trading Down 0.1 %

Shares of CWEN stock opened at $25.95 on Friday. The stock has a market capitalization of $5.25 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88. Clearway Energy, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The company has a 50 day moving average price of $26.73 and a 200 day moving average price of $27.56.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share 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 company had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. During the same period in the prior year, the company posted $0.03 EPS. The firm’s revenue was up 31.0% compared to the same quarter last year. Equities research analysts predict that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CWEN has been the topic of several recent research reports. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. CIBC boosted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.57.

Insiders Place Their Bets

In other news, Director Brian R. Ford sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the completion of the transaction, the director now directly owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. This represents a 19.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is currently owned by company insiders.

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.