Synergy Asset Management LLC Has $3.02 Million Stake in Clearway Energy, Inc. $CWEN

Synergy Asset Management LLC reduced its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 60.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,647 shares of the company’s stock after selling 138,489 shares during the quarter. Synergy Asset Management LLC’s holdings in Clearway Energy were worth $3,015,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Clearway Energy by 280.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after purchasing an additional 705 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Clearway Energy by 201.9% in the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Mather Group LLC. acquired a new stake in Clearway Energy in the 3rd quarter valued at about $29,000. Headlands Technologies LLC acquired a new stake in Clearway Energy in the 2nd quarter valued at about $43,000. Finally, Johnson Financial Group Inc. bought a new position in Clearway Energy during the third quarter worth about $52,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Down 0.7%

Clearway Energy stock opened at $38.91 on Friday. The company’s 50-day moving average price is $38.14 and its two-hundred day moving average price is $34.40. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 1.36. The stock has a market cap of $7.99 billion, a P/E ratio of 27.40, a P/E/G ratio of 2.70 and a beta of 0.95. Clearway Energy, Inc. has a twelve month low of $25.63 and a twelve month high of $41.51.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.The firm had revenue of $310.00 million for the quarter, compared to the consensus estimate of $334.42 million. During the same quarter in the prior year, the firm earned ($0.41) EPS. As a group, analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were paid a $0.4602 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, March 2nd. This represents a $1.84 annualized dividend and a yield of 4.7%. Clearway Energy’s dividend payout ratio is presently 129.58%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CWEN. Zacks Research downgraded Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. UBS Group set a $45.00 price objective on Clearway Energy in a research report on Tuesday, February 24th. Roth Mkm reiterated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Clearway Energy in a research note on Tuesday, February 24th. Wall Street Zen lowered Clearway Energy from a “hold” rating to a “strong sell” rating in a report on Saturday, February 28th. Finally, Canadian Imperial Bank of Commerce upgraded Clearway Energy from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $37.00 to $38.00 in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.50.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.