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. lessened its stake in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 55.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 256,578 shares of the company's stock after selling 323,226 shares during the quarter. Northwest & Ethical Investments L.P. owned 0.13% of Clearway Energy worth $7,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vestmark Advisory Solutions Inc. acquired a new position in shares of Clearway Energy in the first quarter valued at approximately $417,000. Aigen Investment Management LP acquired a new position in shares of Clearway Energy in the first quarter valued at approximately $276,000. King Luther Capital Management Corp boosted its holdings in shares of Clearway Energy by 1.1% in the first quarter. King Luther Capital Management Corp now owns 549,840 shares of the company's stock valued at $16,644,000 after buying an additional 5,890 shares during the period. Intrust Bank NA acquired a new position in shares of Clearway Energy in the first quarter valued at approximately $250,000. Finally, Wealthspire Advisors LLC acquired a new position in shares of Clearway Energy in the first quarter valued at approximately $206,000. Institutional investors and hedge funds own 84.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CWEN shares. Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. 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. 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. Finally, 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. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.40.

Clearway Energy Stock Performance

Shares of NYSE:CWEN traded up $0.3450 during trading on Friday, reaching $30.0750. 775,396 shares of the stock were exchanged, compared to its average volume of 980,418. Clearway Energy, Inc. has a 12 month low of $24.40 and a 12 month high of $33.22. The firm has a market cap of $6.08 billion, a PE ratio of 46.27, a PEG ratio of 1.01 and a beta of 0.87. The stock has a 50-day moving average price of $31.53 and a 200-day moving average price of $29.76. 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 posted 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). Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The firm had revenue of $392.00 million for the quarter, compared to analyst estimates of $428.33 million. During the same period in the prior year, the business posted $0.43 EPS. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be given a $0.4456 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.9%. Clearway Energy's dividend payout ratio (DPR) is presently 269.23%.

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.