Clearway Energy, Inc. $CWEN Shares Sold by Tidal Investments LLC

Key Points

• Tidal Investments cut its Clearway Energy stake by 34.5% in the second quarter, selling 40,688 shares and retaining 77,168 shares valued at approximately $2.64 million. Institutional investors and hedge funds collectively own 84.53% of CWEN.
• Analyst sentiment remains favorable, with the stock carrying a consensus “Buy” rating and an average price target of $43.78, well above its reported opening price of $29.92.
• Clearway Energy reported quarterly EPS of $1.00, beating estimates of $0.24, and raised its quarterly dividend to $0.475 per share. The annualized dividend is $1.90, representing a yield of about 6.3%.

Tidal Investments LLC decreased its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 34.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,168 shares of the company's stock after selling 40,688 shares during the quarter. Tidal Investments LLC's holdings in Clearway Energy were worth $2,638,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in Clearway Energy during the second quarter valued at approximately $83,000. Maven Securities LTD purchased a new stake in Clearway Energy in the 2nd quarter worth approximately $667,000. NewEdge Advisors LLC boosted its position in Clearway Energy by 51.0% in the 2nd quarter. NewEdge Advisors LLC now owns 12,242 shares of the company's stock worth $418,000 after purchasing an additional 4,136 shares in the last quarter. Squarepoint Ops LLC boosted its position in Clearway Energy by 276.7% in the 2nd quarter. Squarepoint Ops LLC now owns 207,332 shares of the company's stock worth $7,087,000 after purchasing an additional 152,292 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Clearway Energy by 12.9% during the 2nd quarter. Baird Financial Group Inc. now owns 296,250 shares of the company's stock worth $10,126,000 after purchasing an additional 33,922 shares during the period. 84.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on CWEN. Wall Street Zen upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Truist Financial assumed coverage on shares of Clearway Energy in a research report on Monday, July 13th. They set a "buy" rating and a $43.00 price target on the stock. Evercore restated a "positive" rating and set a $40.00 price target on shares of Clearway Energy in a research report on Monday, August 17th. Zacks Research raised shares of Clearway Energy from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Clearway Energy from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $43.78.

Clearway Energy Stock Down 1.2%

Shares of CWEN opened at $29.92 on Wednesday. The firm has a market cap of $6.14 billion, a P/E ratio of 39.37 and a beta of 0.87. Clearway Energy, Inc. has a 12 month low of $27.67 and a 12 month high of $41.74. The stock's 50 day moving average is $32.60 and its two-hundred day moving average is $36.34. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.76. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%.The firm had revenue of $481.00 million for the quarter, compared to analyst estimates of $473.92 million. Analysts predict that Clearway Energy, Inc. will post -0.5 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from Clearway Energy's previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a yield of 6.3%. Clearway Energy's payout ratio is 250.00%.

Clearway Energy Profile

Clearway Energy, Inc NYSE: CWEN is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company's renewable portfolio includes wind and solar generation facilities, along with battery storage assets.

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