Principal Financial Group Inc. Has $1.30 Million Position in Clearway Energy Inc (CWEN)

Principal Financial Group Inc. cut its stake in Clearway Energy Inc (NYSE:CWEN) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,142 shares of the company’s stock after selling 4,511 shares during the period. Principal Financial Group Inc.’s holdings in Clearway Energy were worth $1,296,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Csenge Advisory Group bought a new position in Clearway Energy in the 3rd quarter worth about $32,000. Griffin Asset Management Inc. purchased a new stake in shares of Clearway Energy in the 3rd quarter valued at about $684,000. Reaves W H & Co. Inc. raised its holdings in shares of Clearway Energy by 427.7% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,007,419 shares of the company’s stock valued at $17,378,000 after acquiring an additional 816,500 shares in the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Clearway Energy in the 3rd quarter valued at about $221,000. Finally, Nomura Holdings Inc. purchased a new stake in shares of Clearway Energy in the 4th quarter valued at about $450,000. 31.62% of the stock is currently owned by institutional investors.

CWEN has been the topic of several recent analyst reports. ValuEngine raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Macquarie cut Clearway Energy from an “outperform” rating to a “neutral” rating in a report on Friday, February 15th. Guggenheim cut Clearway Energy from a “buy” rating to a “neutral” rating in a report on Monday, January 7th. Finally, Zacks Investment Research cut Clearway Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 15th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.50.

NYSE:CWEN opened at $16.02 on Friday. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 34.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.02 and a current ratio of 1.07. Clearway Energy Inc has a twelve month low of $12.12 and a twelve month high of $20.75.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, February 28th. The company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.68). The firm had revenue of $229.00 million for the quarter, compared to analysts’ expectations of $286.00 million. Clearway Energy had a net margin of 4.56% and a return on equity of 2.13%. As a group, research analysts expect that Clearway Energy Inc will post 1.2 earnings per share for the current fiscal year.

In other news, CFO Chad Plotkin acquired 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $14.79 per share, with a total value of $39,933.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Kevin P. Malcarney acquired 10,250 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average cost of $14.58 per share, for a total transaction of $149,445.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 19,450 shares of company stock worth $283,563. 0.24% of the stock is currently owned by insiders.

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Clearway Energy Company Profile

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.

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Institutional Ownership by Quarter for Clearway Energy (NYSE:CWEN)

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