Brookfield Corp ON Has $5.13 Million Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Brookfield Corp ON trimmed its position in Clearway Energy, Inc. (NYSE:CWEN) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 167,146 shares of the company’s stock after selling 2,458 shares during the quarter. Brookfield Corp ON’s holdings in Clearway Energy were worth $5,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hancock Whitney Corp bought a new position in Clearway Energy in the 3rd quarter worth approximately $1,486,000. Friedenthal Financial acquired a new position in Clearway Energy in the 2nd quarter valued at approximately $712,000. Edgestream Partners L.P. bought a new stake in shares of Clearway Energy in the 2nd quarter worth approximately $3,643,000. 1832 Asset Management L.P. acquired a new stake in shares of Clearway Energy during the 2nd quarter worth approximately $32,310,000. Finally, Entropy Technologies LP bought a new stake in shares of Clearway Energy during the third quarter valued at approximately $1,026,000. 38.03% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Performance

CWEN stock opened at $28.24 on Friday. The stock has a market capitalization of $5.71 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86. 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 current ratio of 1.59 and a quick ratio of 1.49. The company has a 50 day moving average price of $28.05 and a 200 day moving average price of $27.55.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The company had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy’s quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. Analysts forecast that Clearway Energy, Inc. will post 0.82 EPS for the current 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 issued a dividend of $0.424 per share. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 6.01%. Clearway Energy’s payout ratio is currently 163.46%.

Analyst Ratings Changes

A number of research firms have weighed in on CWEN. Jefferies Financial Group started coverage on shares of Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. CIBC raised their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. BNP Paribas began coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. Finally, StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Clearway Energy presently has a consensus rating of “Moderate Buy” and an average price target of $33.13.

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.