Clearway Energy, Inc. $CWEN Shares Acquired by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB significantly increased its stake in Clearway Energy by 325.3% during Q2, acquiring an additional 187,861 shares to reach ownership of approximately $7.7 million.
• Clearway Energy recently missed earnings estimates, reporting $0.28 earnings per share against a consensus estimate of $0.67, while revenue was also below expectations at $392 million.
• The company announced a dividend increase to $0.4456 per share, marking an annualized yield of 5.6%, though this results in a high dividend payout ratio of 273.85%.

Nordea Investment Management AB lifted its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 325.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 245,614 shares of the company's stock after purchasing an additional 187,861 shares during the quarter. Nordea Investment Management AB owned about 0.12% of Clearway Energy worth $7,747,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prudent Man Advisors LLC increased its stake in shares of Clearway Energy by 2.0% in the 1st quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company's stock worth $794,000 after acquiring an additional 516 shares during the last quarter. Monetary Management Group Inc. increased 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 worth $436,000 after purchasing an additional 600 shares during the last quarter. Abundance Wealth Counselors raised its stake in Clearway Energy by 1.6% during the second quarter. Abundance Wealth Counselors now owns 39,158 shares of the company's stock worth $1,253,000 after purchasing an additional 624 shares during the period. WBI Investments LLC boosted its holdings in Clearway Energy by 5.0% in the 1st quarter. WBI Investments LLC now owns 17,544 shares of the company's stock valued at $531,000 after purchasing an additional 834 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in shares of Clearway Energy by 0.5% in the 1st quarter. Alps Advisors Inc. now owns 169,464 shares of the company's stock valued at $5,130,000 after buying an additional 862 shares during the period. Institutional investors and hedge funds own 84.53% of the company's stock.

Clearway Energy Price Performance

CWEN opened at $31.59 on Tuesday. The stock's 50-day moving average price is $29.66 and its 200 day moving average price is $30.20. Clearway Energy, Inc. has a 12-month low of $24.40 and a 12-month high of $33.22. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 48.60, a PEG ratio of 1.24 and a beta of 0.89. 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 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 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%. The business's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, sell-side analysts expect 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 was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.4456 per share. This is a boost from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, September 2nd. This represents a $1.78 dividend on an annualized basis and a yield of 5.6%. Clearway Energy's dividend payout ratio (DPR) is currently 273.85%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Roth Capital reaffirmed a "buy" rating and set a $38.00 price target on shares of Clearway Energy in a research report on Monday, October 6th. Evercore ISI initiated coverage on Clearway Energy in a research report on Monday, October 6th. They issued an "in-line" rating and a $34.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Clearway Energy in a research note on Wednesday, October 8th. CIBC downgraded 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. Finally, Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Clearway Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.29.

About Clearway Energy

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.

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