64,439 Clearway Energy, Inc. $CWEN Shares Acquired by Tectonic Advisors LLC

Key Points

• Tectonic Advisors increased its Clearway Energy position by 12.8%, acquiring 64,439 shares to hold 567,137 shares valued at approximately $16.6 million. Institutional investors collectively own 84.53% of the company.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and average price target of $42.00, despite several firms recently lowering their targets.
• Clearway Energy shares recently traded near $31.13, while the company raised its quarterly dividend to $0.475 per share, representing an annualized payout of $1.90 and a yield of about 6.1%.

Tectonic Advisors LLC increased its position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 567,137 shares of the company's stock after acquiring an additional 64,439 shares during the quarter. Tectonic Advisors LLC owned approximately 0.28% of Clearway Energy worth $16,600,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings 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 acquiring an additional 7,215 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Clearway Energy by 12.9% in the second 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 during the period. Sanctuary Advisors LLC grew its position in shares of Clearway Energy by 31.3% in the first 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 during the period. Squarepoint Ops LLC increased its stake in Clearway Energy by 276.7% in the second quarter. Squarepoint Ops LLC now owns 207,332 shares of the company's stock valued at $7,087,000 after purchasing an additional 152,292 shares during the last quarter. Finally, Castellan Group increased its stake in Clearway Energy by 9.2% in the first quarter. Castellan Group now owns 142,230 shares of the company's stock valued at $5,588,000 after purchasing an additional 11,988 shares during the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CWEN. Weiss Ratings downgraded Clearway Energy from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 24th. Jefferies Financial Group reaffirmed a "buy" rating and set a $38.00 price objective on shares of Clearway Energy in a research note on Friday, September 4th. Morgan Stanley cut their price objective on shares of Clearway Energy from $58.00 to $52.00 and set an "overweight" rating on the stock in a report on Wednesday. UBS Group decreased their target price on shares of Clearway Energy from $45.00 to $38.00 and set a "buy" rating on the stock in a research report on Wednesday. Finally, Seaport Research Partners lowered their target price on shares of Clearway Energy from $41.00 to $40.00 and set a "buy" rating for the company in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $42.00.

Clearway Energy Trading Down 1.0%

CWEN stock traded down $0.30 during trading on Friday, reaching $31.13. 814,651 shares of the stock traded hands, compared to its average volume of 1,142,107. The business's 50 day moving average price is $30.99 and its 200-day moving average price is $34.68. Clearway Energy, Inc. has a 52-week low of $28.57 and a 52-week high of $41.74. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The firm has a market capitalization of $6.39 billion, a PE ratio of 40.96 and a beta of 0.88.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.76. The company had revenue of $481.00 million for the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. As a group, sell-side analysts forecast that Clearway Energy, Inc. will post -0.25 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.4750 per share. This is a boost from Clearway Energy's previous quarterly dividend of $0.4676. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.90 dividend on an annualized basis and a yield of 6.1%. Clearway Energy's dividend payout ratio is currently 250.00%.

About Clearway Energy

Clearway Energy, Inc NYSE: CWEN owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company's renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.

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