Aberdeen Group plc Has $17.51 Million Stake in Clearway Energy, Inc. $CWEN

Key Points

• Aberdeen Group plc reduced its holdings in Clearway Energy by 4.0%, owning approximately $17.51 million worth of shares after selling 24,200 shares in the first quarter.
• Clearway Energy announced an increase in its quarterly dividend to $0.4456, representing a 6.0% yield, set to be paid to stockholders on September 16th.
• The stock has received mixed analyst ratings, with one sell rating, two holds, and four buy ratings, and a current average target price of $36.40.

Aberdeen Group plc reduced its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 578,500 shares of the company's stock after selling 24,200 shares during the period. Aberdeen Group plc owned about 0.29% of Clearway Energy worth $17,511,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CWEN. Natixis boosted its position in shares of Clearway Energy by 107.4% during the 4th quarter. Natixis now owns 84,394 shares of the company's stock valued at $2,194,000 after acquiring an additional 43,700 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Clearway Energy by 177.0% during the 4th quarter. Stifel Financial Corp now owns 24,990 shares of the company's stock valued at $650,000 after acquiring an additional 15,968 shares in the last quarter. J. Safra Sarasin Holding AG acquired a new stake in shares of Clearway Energy during the 4th quarter valued at about $1,116,000. Uniplan Investment Counsel Inc. boosted its position in shares of Clearway Energy by 0.9% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company's stock valued at $1,703,000 after acquiring an additional 586 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Clearway Energy during the 4th quarter valued at about $655,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CWEN. Jefferies Financial Group lifted their target price on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. CIBC lowered shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price on the stock. in a research report on Saturday, July 19th. Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Finally, Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Clearway Energy presently has an average rating of "Moderate Buy" and a consensus price target of $36.40.

Clearway Energy Price Performance

NYSE:CWEN traded up $0.3450 on Friday, reaching $30.0750. The stock had a trading volume of 775,396 shares, compared to its average volume of 985,007. The company has a market capitalization of $6.08 billion, a P/E ratio of 46.27, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. Clearway Energy, Inc. has a 1-year low of $24.40 and a 1-year high of $33.22. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. The stock has a fifty day moving average price of $31.53 and a 200-day moving average price of $29.81.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($0.39). The firm had revenue of $392.00 million during the quarter, compared to analyst estimates of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. Clearway Energy's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 earnings per share. Research analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.4456 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.9%. Clearway Energy's dividend payout ratio (DPR) is currently 269.23%.

Clearway Energy Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.