Clearway Energy, Inc. $CWEN Stake Lowered by Aberdeen Group plc

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 lessened its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 578,500 shares of the company's stock after selling 24,200 shares during the period. Aberdeen Group plc owned approximately 0.29% of Clearway Energy worth $17,511,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CWEN. Voloridge Investment Management LLC increased its holdings in shares of Clearway Energy by 251.4% in the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock valued at $12,235,000 after purchasing an additional 336,668 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Clearway Energy by 135.8% during the first quarter. Pacer Advisors Inc. now owns 273,219 shares of the company's stock worth $8,270,000 after buying an additional 157,331 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Clearway Energy during the fourth quarter worth about $3,271,000. Victory Capital Management Inc. increased its holdings in Clearway Energy by 56.4% in the first quarter. Victory Capital Management Inc. now owns 274,078 shares of the company's stock valued at $8,296,000 after buying an additional 98,876 shares in the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Clearway Energy by 88.0% in the fourth quarter. Squarepoint Ops LLC now owns 189,238 shares of the company's stock valued at $4,920,000 after buying an additional 88,560 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

Clearway Energy Stock Up 1.2%

Shares of CWEN traded up $0.3450 during trading on Friday, reaching $30.0750. The company's stock had a trading volume of 775,396 shares, compared to its average volume of 935,731. The company has a fifty day moving average of $31.56 and a two-hundred day moving average of $29.73. Clearway Energy, Inc. has a twelve month low of $24.40 and a twelve month high of $33.22. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 46.27, a P/E/G ratio of 1.03 and a beta of 0.87. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.49.

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

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be paid 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 annualized dividend and a yield of 5.9%. Clearway Energy's payout ratio is presently 273.85%.

Analysts Set New Price Targets

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

Clearway Energy Company 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.