Clearway Energy, Inc. (NYSE:CWEN) Shares Sold by First National Trust Co

First National Trust Co reduced its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 20.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 26,959 shares of the company’s stock after selling 7,060 shares during the period. First National Trust Co’s holdings in Clearway Energy were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. bought a new position in shares of Clearway Energy during the second quarter worth about $32,310,000. Apollo Management Holdings L.P. increased its stake in shares of Clearway Energy by 38.4% in the first quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock valued at $37,924,000 after purchasing an additional 456,197 shares during the period. Point72 Asset Management L.P. raised its holdings in shares of Clearway Energy by 60.9% during the second quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after buying an additional 384,837 shares during the last quarter. Yaupon Capital Management LP acquired a new position in shares of Clearway Energy during the first quarter worth approximately $7,346,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Clearway Energy by 144.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after buying an additional 254,486 shares in the last quarter. 38.03% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $26.69 on Wednesday. The company has a market capitalization 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. 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 stock has a fifty day moving average of $28.26 and a 200-day moving average of $27.22. Clearway Energy, Inc. has a one year low of $20.63 and a one year high of $30.92.

Clearway Energy (NYSE:CWEN) last announced 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). The company had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, equities analysts anticipate that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.424 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Monday, December 2nd. Clearway Energy’s dividend payout ratio (DPR) is 160.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CWEN. CIBC boosted their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. BNP Paribas started coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group initiated coverage on Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and an average price target 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.