Kayne Anderson Capital Advisors LP Sells 101,260 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Kayne Anderson Capital Advisors LP reduced its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 38.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,327 shares of the company’s stock after selling 101,260 shares during the quarter. Kayne Anderson Capital Advisors LP owned 0.08% of Clearway Energy worth $5,072,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC grew its stake in shares of Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after purchasing an additional 625 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Clearway Energy in the 3rd quarter valued at about $50,000. Quarry LP grew its position in shares of Clearway Energy by 53.4% during the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after buying an additional 843 shares during the period. Finally, nVerses Capital LLC raised its position in shares of Clearway Energy by 34.0% during the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock valued at $206,000 after acquiring an additional 1,700 shares during the last quarter. 38.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. BNP Paribas assumed coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price on the stock. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Thursday. CIBC lifted their price target 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, Roth Mkm reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Stock Up 0.7 %

CWEN stock opened at $27.56 on Monday. The company has a market cap of $5.57 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.44 and a beta of 0.87. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a 52 week low of $20.63 and a 52 week high of $30.92. The business has a 50-day simple moving average of $28.23 and a 200 day simple moving average of $27.30.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (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 business had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same period in the previous year, the business posted $0.03 EPS. Clearway Energy’s revenue was up 31.0% on a year-over-year basis. Sell-side analysts anticipate that Clearway Energy, Inc. will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.424 dividend. The ex-dividend date is Monday, December 2nd. 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 6.15%. Clearway Energy’s dividend payout ratio is presently 162.50%.

Clearway Energy 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.