Calydon Capital Cuts Stake in Clearway Energy, Inc. $CWEN

Calydon Capital reduced its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 12.7% in the third quarter, Holdings Channel reports. The firm owned 204,253 shares of the company’s stock after selling 29,766 shares during the quarter. Calydon Capital’s holdings in Clearway Energy were worth $5,770,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. First Trust Advisors LP lifted its stake in shares of Clearway Energy by 3.7% in the second quarter. First Trust Advisors LP now owns 2,171,301 shares of the company’s stock worth $69,482,000 after buying an additional 77,595 shares in the last quarter. RWC Asset Management LLP increased its position in shares of Clearway Energy by 12.2% during the third quarter. RWC Asset Management LLP now owns 745,537 shares of the company’s stock valued at $21,061,000 after acquiring an additional 81,349 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC raised its holdings in Clearway Energy by 8.8% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company’s stock worth $17,656,000 after acquiring an additional 50,344 shares during the last quarter. Aberdeen Group plc raised its holdings in Clearway Energy by 0.3% in the 3rd quarter. Aberdeen Group plc now owns 580,307 shares of the company’s stock worth $16,463,000 after acquiring an additional 1,807 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Clearway Energy by 1,116.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock valued at $13,757,000 after acquiring an additional 394,579 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $38.23 on Friday. 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 capitalization of $7.85 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95. The firm’s 50 day moving average price is $37.06 and its 200-day moving average price is $33.82. Clearway Energy, Inc. has a twelve month low of $25.63 and a twelve month high of $41.51.

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

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.4602 per share. The ex-dividend date is Monday, March 2nd. This represents a $1.84 annualized dividend and a dividend yield of 4.8%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio is 129.58%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. 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. Canadian Imperial Bank of Commerce raised Clearway Energy from a “neutral” rating to a “sector outperform” rating and lifted their target price for the stock from $37.00 to $38.00 in a report on Tuesday, December 16th. Royal Bank Of Canada upped their price target on Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.14.

About Clearway Energy

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.