Calydon Capital Sells 29,766 Shares of Clearway Energy, Inc. $CWEN

Key Points

• Calydon Capital reduced its stake in Clearway Energy by 12.7%, selling 29,766 shares and ending the quarter with 204,253 shares worth about $5.77 million.
• Clearway missed quarterly EPS expectations (reported -$0.89 vs. -$0.21 expected) and had lower-than-expected revenue, yet the company raised its quarterly dividend to $0.4602 (annualized $1.84, ~4.8% yield).
• Analysts hold a consensus rating of “Moderate Buy” with a $40.14 average target and several firms raising price targets (e.g., RBC to $42, UBS to $45), while about 84.5% of the stock is owned by institutional investors.

Calydon Capital reduced its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,253 shares of the company's stock after selling 29,766 shares during the period. Calydon Capital owned 0.10% of Clearway Energy worth $5,770,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Clearway Energy by 12.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company's stock valued at $1,070,000 after acquiring an additional 3,787 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Clearway Energy in the 2nd quarter worth approximately $356,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Clearway Energy by 6.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,375 shares of the company's stock valued at $844,000 after purchasing an additional 1,553 shares during the period. Creative Planning lifted its stake in shares of Clearway Energy by 8.5% in the 2nd quarter. Creative Planning now owns 20,281 shares of the company's stock valued at $649,000 after purchasing an additional 1,582 shares during the period. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Clearway Energy during the second quarter valued at approximately $2,693,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CWEN shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Royal Bank Of Canada boosted their target price on shares of Clearway Energy from $38.00 to $42.00 and gave the company an "outperform" rating in a report on Tuesday, February 24th. Zacks Research downgraded shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. UBS Group set a $45.00 price target on shares of Clearway Energy in a research note on Tuesday, February 24th. Finally, Canadian Imperial Bank of Commerce raised shares of Clearway Energy from a "neutral" rating to a "sector outperform" rating and lifted their price target for the company from $37.00 to $38.00 in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Clearway Energy has a consensus rating of "Moderate Buy" and a consensus target price of $40.14.

Clearway Energy Stock Performance

Clearway Energy stock opened at $38.23 on Friday. Clearway Energy, Inc. has a twelve month low of $25.63 and a twelve month high of $41.51. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $7.85 billion, a P/E ratio of 26.92, a PEG ratio of 1.66 and a beta of 0.95. The stock's 50 day moving average is $37.06 and its 200 day moving average is $33.82.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.68). Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. The company had revenue of $310.00 million for the quarter, compared to analysts' expectations of $334.42 million. During the same quarter in the previous year, the firm posted ($0.41) EPS. On average, equities research analysts predict that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.4602 per share. The ex-dividend date is Monday, March 2nd. This is a boost from Clearway Energy's previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a dividend yield of 4.8%. Clearway Energy's dividend payout ratio is 129.58%.

About Clearway Energy

Clearway Energy Group NYSE: CWEN is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company's portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway's generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.

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