Edgestream Partners L.P. Takes $1.43 Million Position in Clearway Energy, Inc. $CWEN

Key Points

• Edgestream Partners purchased 36,316 Clearway Energy shares worth approximately $1.43 million, while institutional investors collectively own 84.53% of the company.
• Analyst sentiment is mixed: some firms downgraded the stock to “strong sell,” but Morgan Stanley raised its price target to $60. The overall consensus remains “Moderate Buy,” with a $44 target price.
• Clearway Energy shares opened at $32.06, near the lower end of their 52-week range. The company missed quarterly EPS expectations, but increased its quarterly dividend to $0.4676, implying a 5.8% annualized yield.

Edgestream Partners L.P. purchased a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,316 shares of the company's stock, valued at approximately $1,427,000.

A number of other institutional investors also recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its position in Clearway Energy by 280.9% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company's stock valued at $27,000 after acquiring an additional 705 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company's stock worth $28,000 after acquiring an additional 652 shares during the period. Huntington National Bank raised its position in shares of Clearway Energy by 92.4% in the 4th quarter. Huntington National Bank now owns 858 shares of the company's stock worth $29,000 after acquiring an additional 412 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Clearway Energy by 94.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company's stock worth $41,000 after acquiring an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Clearway Energy in the 2nd quarter valued at approximately $43,000. 84.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CWEN shares. Wall Street Zen cut Clearway Energy from a "sell" rating to a "strong sell" rating in a research note on Saturday. Zacks Research downgraded shares of Clearway Energy from a "hold" rating to a "strong sell" rating in a research report on Friday, July 10th. Weiss Ratings lowered shares of Clearway Energy from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, May 11th. Morgan Stanley boosted their price objective on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft set a $41.00 price objective on shares of Clearway Energy in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Clearway Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.00.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $32.06 on Tuesday. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 801.70 and a beta of 0.89. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. Clearway Energy, Inc. has a one year low of $27.67 and a one year high of $41.74. The company's 50-day moving average is $35.75 and its 200 day moving average is $37.50.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.90). The firm had revenue of $354.00 million during the quarter, compared to analysts' expectations of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. Sell-side analysts expect that Clearway Energy, Inc. will post -1.03 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.4676 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date was Monday, June 1st. This is an increase from Clearway Energy's previous quarterly dividend of $0.46. Clearway Energy's dividend payout ratio (DPR) is presently 4,675.00%.

Clearway Energy Company Profile

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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