Evergreen Capital Management LLC Takes Position in Clearway Energy, Inc. $CWEN

Key Points

• Evergreen Capital Management LLC has acquired a new stake in Clearway Energy, purchasing 10,379 shares valued at approximately $314,000 during the first quarter.
• Clearway Energy plans to pay a quarterly dividend of $0.4456 on September 16th, which represents an annualized yield of 6.2%.
• Shares of Clearway Energy have seen fluctuations, currently trading at $28.66, reflecting a decrease of 3.9% and maintaining a market capitalization of $5.79 billion.

Evergreen Capital Management LLC bought a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,379 shares of the company's stock, valued at approximately $314,000.

Several other large investors have also recently made changes to their positions in CWEN. Voloridge Investment Management LLC raised its position in shares of Clearway Energy by 251.4% in the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock worth $12,235,000 after acquiring an additional 336,668 shares in the last quarter. Pacer Advisors Inc. grew its stake in Clearway Energy by 135.8% during the 1st quarter. Pacer Advisors Inc. now owns 273,219 shares of the company's stock worth $8,270,000 after buying an additional 157,331 shares during the last quarter. Victory Capital Management Inc. grew its stake in Clearway Energy by 56.4% during the 1st quarter. Victory Capital Management Inc. now owns 274,078 shares of the company's stock worth $8,296,000 after buying an additional 98,876 shares during the last quarter. Squarepoint Ops LLC grew its stake in Clearway Energy by 88.0% during the 4th quarter. Squarepoint Ops LLC now owns 189,238 shares of the company's stock worth $4,920,000 after buying an additional 88,560 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Clearway Energy during the 1st quarter worth $2,012,000. 84.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CWEN has been the topic of several research analyst reports. Cibc World Mkts downgraded Clearway Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. CIBC downgraded Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research note on Saturday, July 19th. Jefferies Financial Group boosted their price target on 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 Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Clearway Energy currently has an average rating of "Moderate Buy" and an average price target of $36.40.

Clearway Energy Price Performance

NYSE CWEN traded down $0.03 during trading hours on Friday, reaching $28.67. The company's stock had a trading volume of 798,150 shares, compared to its average volume of 922,490. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 44.10, a P/E/G ratio of 0.97 and a beta of 0.87. Clearway Energy, Inc. has a 1-year low of $24.40 and a 1-year high of $33.22. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.34. The company's 50-day moving average is $31.02 and its two-hundred day moving average is $30.00.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.39). The business had revenue of $392.00 million during the quarter, compared to analyst estimates of $428.33 million. Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. On average, equities analysts predict that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.4456 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a dividend yield of 6.2%. Clearway Energy's payout ratio is currently 273.85%.

Clearway Energy 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.