Aigen Investment Management LP Takes Position in Clearway Energy, Inc. $CWEN

Key Points

• Aigen Investment Management LP has acquired 9,121 shares of Clearway Energy, Inc. (NYSE:CWEN), valued at approximately $276,000, in the first quarter of this year.
• The company declared a new quarterly dividend of $0.4456 per share, up from $0.44, representing a 6.0% dividend yield.
• Despite a missed earnings estimate of $0.67 per share, Clearway Energy's revenues increased by 7.1% year-over-year, totaling $392 million for the quarter.

Aigen Investment Management LP acquired a new stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,121 shares of the company's stock, valued at approximately $276,000.

Other large investors also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Clearway Energy in the first quarter worth about $27,000. Tsfg LLC acquired a new stake in Clearway Energy in the 1st quarter valued at approximately $61,000. NBT Bank N A NY acquired a new stake in Clearway Energy in the 1st quarter valued at approximately $71,000. SBI Securities Co. Ltd. increased its position in shares of Clearway Energy by 48.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company's stock valued at $89,000 after purchasing an additional 966 shares during the period. Finally, Quarry LP boosted its position in shares of Clearway Energy by 48.6% during the 4th quarter. Quarry LP now owns 5,454 shares of the company's stock valued at $142,000 after purchasing an additional 1,783 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Stock Performance

Shares of CWEN stock traded up $0.04 during trading on Tuesday, hitting $29.94. The company's stock had a trading volume of 172,829 shares, compared to its average volume of 931,630. The business has a fifty day moving average of $31.62 and a 200-day moving average of $29.70. Clearway Energy, Inc. has a 52 week low of $24.40 and a 52 week high of $33.22. The company has a market cap of $6.05 billion, a PE ratio of 46.10, a P/E/G ratio of 1.02 and a beta of 0.87. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49.

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

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a $0.4456 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a dividend yield of 6.0%. Clearway Energy's payout ratio is 273.85%.

Analyst Upgrades and Downgrades

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