Foresight Group Ltd Liability Partnership Has $10.93 Million Stock 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 reduced its position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 3.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 361,980 shares of the company's stock after selling 13,297 shares during the period. Clearway Energy accounts for approximately 1.6% of Foresight Group Ltd Liability Partnership's investment portfolio, making the stock its 27th largest holding. Foresight Group Ltd Liability Partnership owned approximately 0.18% of Clearway Energy worth $10,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gotham Asset Management LLC grew its position in shares of Clearway Energy by 79.1% during the 1st quarter. Gotham Asset Management LLC now owns 814,841 shares of the company's stock worth $24,665,000 after buying an additional 359,876 shares during the period. Voloridge Investment Management LLC grew its position in shares of Clearway Energy by 251.4% during the 4th quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock worth $12,235,000 after buying an additional 336,668 shares during the period. Pacer Advisors Inc. grew its position in shares of 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 period. Victory Capital Management Inc. grew its position in shares of 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 period. Finally, Squarepoint Ops LLC grew its position in shares of 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 period. 84.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Clearway Energy Stock Down 0.8%

NYSE CWEN traded down $0.22 during trading hours on Tuesday, hitting $28.40. 286,091 shares of the company traded hands, compared to its average volume of 929,871. The business's 50-day moving average is $30.57 and its 200-day moving average is $30.07. Clearway Energy, Inc. has a twelve month low of $24.40 and a twelve month high of $33.22. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of 43.66, a P/E/G ratio of 0.97 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.39). The company had revenue of $392.00 million during the quarter, compared to analyst estimates of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The company's quarterly revenue 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. Sell-side analysts anticipate that Clearway Energy, Inc. will post 0.83 earnings per share 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 paid a $0.4456 dividend. This is an increase from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, September 2nd. This represents a $1.78 annualized dividend and a yield of 6.3%. Clearway Energy's dividend payout ratio (DPR) is 273.85%.

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.