Gotham Asset Management LLC Has $24.67 Million Position in Clearway Energy, Inc. $CWEN

Key Points

• Gotham Asset Management LLC increased its position in Clearway Energy, Inc. by 79.1% during the first quarter, now owning approximately 0.40% of the company valued at $24.67 million.
• Clearway Energy reported an EPS of $0.28 for the quarter, missing the consensus estimate of $0.67 and showing a revenue of $392 million, below the estimated $428.33 million.
• The company announced a new quarterly dividend of $0.4456, increasing from the previous $0.44, with an annualized dividend yield of 6.2%.

Gotham Asset Management LLC increased its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 79.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 814,841 shares of the company's stock after purchasing an additional 359,876 shares during the period. Gotham Asset Management LLC owned approximately 0.40% of Clearway Energy worth $24,665,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Hancock Whitney Corp grew its stake in shares of Clearway Energy by 13.3% during the 1st quarter. Hancock Whitney Corp now owns 68,193 shares of the company's stock worth $2,064,000 after acquiring an additional 8,016 shares in the last quarter. Ardsley Advisory Partners LP bought a new stake in shares of Clearway Energy in the first quarter worth $1,514,000. Evergreen Capital Management LLC bought a new stake in shares of Clearway Energy in the first quarter worth $314,000. Walleye Trading LLC lifted its position in shares of Clearway Energy by 259.1% in the first quarter. Walleye Trading LLC now owns 11,024 shares of the company's stock worth $334,000 after purchasing an additional 7,954 shares in the last quarter. Finally, Walleye Capital LLC lifted its position in shares of Clearway Energy by 225.6% in the first quarter. Walleye Capital LLC now owns 31,318 shares of the company's stock worth $948,000 after purchasing an additional 56,245 shares in the last quarter. Institutional investors own 84.53% of the company's stock.

Clearway Energy Stock Up 1.3%

Shares of Clearway Energy stock traded up $0.36 on Tuesday, reaching $28.73. 837,023 shares of the company were exchanged, compared to its average volume of 933,925. Clearway Energy, Inc. has a one year low of $24.40 and a one year high of $33.22. The company has a market capitalization of $5.81 billion, a price-to-earnings ratio of 44.20, a PEG ratio of 0.97 and a beta of 0.87. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average of $30.94 and a 200 day moving average of $30.03.

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

Clearway Energy Increases Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on CWEN. 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. Jefferies Financial Group boosted their price objective on shares of Clearway Energy from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. 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, Cibc World Mkts cut Clearway Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $36.40.

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.