Northside Capital Management LLC Buys Shares of 276,484 Clearway Energy, Inc. $CWEN

Key Points

• Northside Capital Management LLC purchased 276,484 shares of Clearway Energy, Inc. for approximately $8.85 million, increasing its stake to 0.14% as of their most recent SEC filing.
• Following a recent earnings report, Clearway Energy missed analysts' EPS estimates by $0.39, reporting $0.28 per share against a consensus of $0.67.
• The company announced an increase in its quarterly dividend to $0.4456, which represents an annual yield of 6.3% despite a high payout ratio of 273.85%.

Northside Capital Management LLC bought a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 276,484 shares of the company's stock, valued at approximately $8,847,000. Northside Capital Management LLC owned 0.14% of Clearway Energy as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Clearway Energy during the 1st quarter valued at $27,000. Tsfg LLC acquired a new position in Clearway Energy during the 1st quarter worth $61,000. NBT Bank N A NY acquired a new position in Clearway Energy during the 1st quarter worth $71,000. SBI Securities Co. Ltd. lifted its position in Clearway Energy by 48.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company's stock worth $89,000 after acquiring an additional 966 shares during the last quarter. Finally, Wealthspire Advisors LLC acquired a new position in Clearway Energy during the 1st quarter worth $206,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CWEN has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price objective on shares of Clearway Energy from $37.00 to $39.00 and gave the company 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. CIBC lowered shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective for the company. in a research report on Saturday, July 19th. Finally, Cibc World Mkts cut shares of 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 given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.

Clearway Energy Stock Down 0.9%

Clearway Energy stock opened at $28.26 on Wednesday. The company has a market cap of $5.71 billion, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 1.26 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 fifty day simple moving average of $30.10 and a 200 day simple moving average of $30.09. 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 released its 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 the consensus estimate of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the business posted $0.43 EPS. Research analysts anticipate that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were given a $0.4456 dividend. This is a boost from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 6.3%. Clearway Energy's payout ratio 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.

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