Foresight Group Ltd Liability Partnership Has $10.93 Million Holdings in Clearway Energy, Inc. $CWEN

Key Points

• Foresight Group Ltd Liability Partnership has decreased its holdings in Clearway Energy, Inc. by 3.5%, owning approximately $10.93 million worth of shares as of its latest SEC filing.
• Clearway Energy reported quarterly earnings of $0.28 per share, significantly missing consensus estimates of $0.67, with revenues of $392 million falling short of the $428 million expected by analysts.
• The company has announced an increase in its quarterly dividend to $0.4456 per share, representing a yield of 6.3%, with a significant dividend payout ratio of 273.85%.

Foresight Group Ltd Liability Partnership trimmed its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 3.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 361,980 shares of the company's stock after selling 13,297 shares during the quarter. Clearway Energy comprises 1.6% of Foresight Group Ltd Liability Partnership's portfolio, making the stock its 27th biggest holding. Foresight Group Ltd Liability Partnership owned 0.18% of Clearway Energy worth $10,927,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CWEN. Alpine Bank Wealth Management bought a new stake in shares of Clearway Energy during the 1st quarter worth about $27,000. Tsfg LLC bought a new position in shares of Clearway Energy in the 1st quarter valued at approximately $61,000. NBT Bank N A NY acquired a new stake in Clearway Energy in the 1st quarter worth approximately $71,000. SBI Securities Co. Ltd. boosted its position in Clearway Energy by 48.8% during the first quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company's stock worth $89,000 after purchasing an additional 966 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Clearway Energy during the fourth quarter worth approximately $166,000. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Trading Down 1.1%

Shares of CWEN stock opened at $28.42 on Thursday. The firm has a market capitalization of $5.75 billion, a P/E ratio of 43.72, a price-to-earnings-growth 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 firm's fifty day simple moving average is $30.82 and its 200 day simple moving average is $30.01. 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 issued 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). Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The company had revenue of $392.00 million during the quarter, compared to the consensus estimate of $428.33 million. During the same period last year, the company earned $0.43 earnings per share. Clearway Energy's revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side 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. Investors of record on Tuesday, September 2nd will be given a dividend of $0.4456 per share. This represents a $1.78 dividend on an annualized basis and a yield of 6.3%. This is a boost from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, September 2nd. Clearway Energy's dividend payout ratio (DPR) is 273.85%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. CIBC downgraded shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price on the stock. in a report on Saturday, July 19th. Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Jefferies Financial Group upped their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $36.40.

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.

Want to see what other hedge funds are holding CWEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Clearway Energy, Inc. (NYSE:CWEN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.