Northwest & Ethical Investments L.P. Sells 323,226 Shares of Clearway Energy, Inc. $CWEN

Key Points

• Northwest & Ethical Investments L.P. sold 323,226 shares of Clearway Energy, reducing its ownership by 55.7%, leaving it with 256,578 shares valued at approximately $7.77 million.
• Clearway Energy reported a loss of $0.39 per share in its latest earnings, with total revenue of $392 million, falling short of the expected $428 million.
• The company announced a quarterly dividend increase to $0.4456 per share, yielding 6.0%, with a significant payout ratio of 269.23%.

Northwest & Ethical Investments L.P. trimmed its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 55.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,578 shares of the company's stock after selling 323,226 shares during the period. Northwest & Ethical Investments L.P. owned about 0.13% of Clearway Energy worth $7,767,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Clearway Energy in the 1st quarter valued at about $280,000. M&T Bank Corp raised its stake in Clearway Energy by 75.8% in the 1st quarter. M&T Bank Corp now owns 25,225 shares of the company's stock valued at $764,000 after acquiring an additional 10,878 shares during the period. Cerity Partners LLC raised its stake in Clearway Energy by 488.1% in the 1st quarter. Cerity Partners LLC now owns 67,309 shares of the company's stock valued at $2,037,000 after acquiring an additional 55,863 shares during the period. Teza Capital Management LLC bought a new stake in Clearway Energy in the 4th quarter valued at about $711,000. Finally, D. E. Shaw & Co. Inc. raised its stake in Clearway Energy by 358.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 47,909 shares of the company's stock valued at $1,246,000 after acquiring an additional 37,461 shares during the period. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Trading Up 1.7%

Shares of CWEN opened at $29.75 on Monday. The business's 50-day moving average price is $31.63 and its 200-day moving average price is $29.67. Clearway Energy, Inc. has a twelve month low of $24.40 and a twelve month high of $33.22. The stock has a market cap of $6.02 billion, a PE ratio of 45.77, a P/E/G ratio of 1.02 and a beta of 0.87. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.49.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share 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 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 firm's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.43 earnings per share. On average, equities analysts forecast that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $0.4456 dividend. This represents a $1.78 annualized dividend and a dividend yield of 6.0%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, September 2nd. Clearway Energy's dividend payout ratio (DPR) is currently 269.23%.

Wall Street Analyst Weigh In

CWEN has been the topic of a number of research reports. Jefferies Financial Group boosted their price objective 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 cut Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research report on Saturday, July 19th. Cibc World Mkts cut Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Finally, Wall Street Zen cut Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.

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