Tidal Investments LLC Cuts Stock Holdings in Clearway Energy, Inc. $CWEN

Tidal Investments LLC lowered its position in shares of Clearway Energy, Inc. (NYSE:CWEN) by 34.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,168 shares of the company’s stock after selling 40,688 shares during the quarter. Tidal Investments LLC’s holdings in Clearway Energy were worth $2,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearbridge Investments LLC increased its position in shares of Clearway Energy by 26.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock worth $154,890,000 after purchasing an additional 981,488 shares in the last quarter. Pacer Advisors Inc. raised its stake in Clearway Energy by 0.9% in the 1st quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock valued at $33,169,000 after purchasing an additional 7,215 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Clearway Energy by 12.9% in the 2nd quarter. Baird Financial Group Inc. now owns 296,250 shares of the company’s stock valued at $10,126,000 after purchasing an additional 33,922 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in Clearway Energy by 31.3% in the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock valued at $9,571,000 after purchasing an additional 58,138 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Clearway Energy by 276.7% during the 2nd quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock worth $7,087,000 after purchasing an additional 152,292 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Performance

Shares of Clearway Energy stock opened at $29.92 on Wednesday. The business’s 50 day moving average price is $32.60 and its 200 day moving average price is $36.34. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 39.37 and a beta of 0.87. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. Clearway Energy, Inc. has a one year low of $27.67 and a one year high of $41.74.

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

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.475 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.47. This represents a $1.90 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend was Tuesday, September 1st. Clearway Energy’s payout ratio is currently 250.00%.

Wall Street Analysts Forecast Growth

CWEN has been the subject of a number of research reports. Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Canadian Imperial Bank of Commerce set a $42.00 price target on shares of Clearway Energy in a research note on Friday, July 17th. Truist Financial started coverage on shares of Clearway Energy in a research report on Monday, July 13th. They set a “buy” rating and a $43.00 price target on the stock. Zacks Research raised shares of Clearway Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, UBS Group increased their price objective on shares of Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Clearway Energy has a consensus rating of “Buy” and an average target price of $43.78.

About Clearway Energy

Clearway Energy, Inc (NYSE: CWEN) is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company’s renewable portfolio includes wind and solar generation facilities, along with battery storage assets.