Ardsley Advisory Partners LP Invests $1.51 Million in Clearway Energy, Inc. $CWEN

Key Points

• Ardsley Advisory Partners LP invested approximately $1.51 million in Clearway Energy, acquiring 50,000 shares in the first quarter.
• The company recently declared a quarterly dividend of $0.4456 per share, indicating an annual yield of 6.2% following an increase from the previous dividend of $0.44.
• Despite a miss on earnings estimates for the quarter, Clearway Energy's revenue rose by 7.1% compared to the same period last year.

Ardsley Advisory Partners LP purchased a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,000 shares of the company's stock, valued at approximately $1,514,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Evergreen Capital Management LLC purchased a new position in Clearway Energy in the first quarter worth about $314,000. Walleye Trading LLC grew its position in Clearway Energy by 259.1% during the first quarter. Walleye Trading LLC now owns 11,024 shares of the company's stock valued at $334,000 after buying an additional 7,954 shares during the period. Walleye Capital LLC grew its position in Clearway Energy by 225.6% during the first quarter. Walleye Capital LLC now owns 31,318 shares of the company's stock valued at $948,000 after buying an additional 56,245 shares during the period. RPG Investment Advisory LLC bought a new stake in Clearway Energy during the first quarter valued at approximately $321,000. Finally, Monetary Management Group Inc. grew its position in Clearway Energy by 4.3% during the first quarter. Monetary Management Group Inc. now owns 14,400 shares of the company's stock valued at $436,000 after buying an additional 600 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Clearway Energy Price Performance

Clearway Energy stock traded down $0.18 during mid-day trading on Monday, reaching $28.50. 220,620 shares of the company's stock traded hands, compared to its average volume of 929,800. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 43.86, a PEG ratio of 0.97 and a beta of 0.87. The stock has a 50 day moving average of $31.02 and a two-hundred day moving average of $30.02. 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, Inc. has a 12-month low of $24.40 and a 12-month high of $33.22.

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

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.4456 per share. The ex-dividend date of this dividend 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 dividend yield of 6.3%. Clearway Energy's payout ratio is currently 273.85%.

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.