19,522 Shares in Clearway Energy, Inc. $CWEN Acquired by Maven Securities LTD

Maven Securities LTD acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN) during the second quarter, Holdings Channel reports. The fund acquired 19,522 shares of the company’s stock, valued at approximately $667,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new stake in shares of Clearway Energy in the first quarter valued at about $1,427,000. Sanctuary Advisors LLC boosted its position in Clearway Energy by 31.3% during the first quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock worth $9,571,000 after acquiring an additional 58,138 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Clearway Energy during the 4th quarter valued at about $759,000. Corient Private Wealth LLC grew its stake in Clearway Energy by 156.8% during the 4th quarter. Corient Private Wealth LLC now owns 39,631 shares of the company’s stock valued at $1,318,000 after acquiring an additional 24,201 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Clearway Energy by 26.7% in the 4th quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock valued at $154,890,000 after acquiring an additional 981,488 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Stock Up 4.3%

Shares of CWEN opened at $33.19 on Wednesday. The company’s 50-day moving average price is $32.82 and its 200 day moving average price is $36.63. Clearway Energy, Inc. has a 12-month low of $27.67 and a 12-month high of $41.74. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The firm has a market cap of $6.81 billion, a P/E ratio of 43.67 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.76. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. The company had revenue of $481.00 million during the quarter, compared to analyst estimates of $473.92 million. On average, sell-side analysts forecast that Clearway Energy, Inc. will post -0.5 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.475 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.90 annualized dividend and a dividend yield of 5.7%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.47. Clearway Energy’s dividend payout ratio (DPR) is currently 250.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CWEN shares. Truist Financial initiated coverage on shares of Clearway Energy in a research note on Monday, July 13th. They issued a “buy” rating and a $43.00 target price on the stock. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Zacks Research upgraded Clearway Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Morgan Stanley lowered their price objective on Clearway Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Clearway Energy in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $43.78.

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.