Clearway Energy, Inc. $CWEN Shares Sold by Entropy Technologies LP

Key Points

• Entropy Technologies LP has reduced its stake in Clearway Energy, Inc. by 69.1%, owning 13,719 shares after selling 30,726 shares, making its holdings worth $415,000.
• The recent earnings report showed Clearway Energy missed expectations, posting an EPS of $0.28 against a consensus estimate of $0.67, with revenue of $392 million.
• Clearway Energy announced an increase in its quarterly dividend to $0.4456, yielding 6.0%, with shareholders of record to be paid on September 16th.

Entropy Technologies LP reduced its stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 69.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,719 shares of the company's stock after selling 30,726 shares during the period. Entropy Technologies LP's holdings in Clearway Energy were worth $415,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Alpine Bank Wealth Management purchased a new stake in shares of Clearway Energy in the 1st quarter worth about $27,000. Tsfg LLC purchased a new stake in shares of Clearway Energy in the 1st quarter worth about $61,000. NBT Bank N A NY purchased a new stake in shares of Clearway Energy in the 1st quarter worth about $71,000. SBI Securities Co. Ltd. boosted its position in shares of Clearway Energy by 48.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company's stock worth $89,000 after buying an additional 966 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Clearway Energy by 48.6% in the 4th quarter. Quarry LP now owns 5,454 shares of the company's stock worth $142,000 after buying an additional 1,783 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Price Performance

CWEN stock traded up $0.38 during trading on Monday, hitting $30.15. The stock had a trading volume of 637,680 shares, compared to its average volume of 929,501. The company's 50 day moving average price is $31.63 and its two-hundred day moving average price is $29.67. Clearway Energy, Inc. has a 1-year low of $24.40 and a 1-year high of $33.22. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 46.36, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced 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). Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The firm had revenue of $392.00 million during the quarter, compared to analyst estimates of $428.33 million. During the same period in the previous year, the firm posted $0.43 EPS. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.4456 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.9%. This is an increase from Clearway Energy's previous quarterly dividend of $0.44. Clearway Energy's dividend payout ratio is currently 269.23%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CWEN shares. CIBC lowered shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective on the stock. in a research report on Saturday, July 19th. Cibc World Mkts downgraded shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Jefferies Financial Group boosted their target price on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $36.40.

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.