Pacer Advisors Inc. Grows Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Key Points

• Pacer Advisors Inc. increased its stake in Clearway Energy, Inc. by 135.8%, acquiring an additional 157,331 shares and bringing its total ownership to approximately 273,219 shares valued at $8,270,000.
• Clearway Energy recently reported a quarterly EPS of $0.03, beating analysts' expectations, while its revenue of $298 million was up 13.3% year-over-year yet lower than forecasts.
• The company has raised its quarterly dividend to $0.4384, representing a 5.58% dividend yield, reflecting a commitment to returning value to shareholders despite a high payout ratio of 218.75%.

Pacer Advisors Inc. lifted its holdings in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 135.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 273,219 shares of the company's stock after purchasing an additional 157,331 shares during the period. Pacer Advisors Inc. owned approximately 0.14% of Clearway Energy worth $8,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. grew its holdings in Clearway Energy by 7.1% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock worth $72,772,000 after acquiring an additional 186,544 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Clearway Energy by 4.8% during the 1st quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 522,000 shares of the company's stock worth $15,801,000 after acquiring an additional 24,000 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in 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 acquiring an additional 336,668 shares in the last quarter. Gotham Asset Management LLC grew its holdings in Clearway Energy by 16.1% during the 4th quarter. Gotham Asset Management LLC now owns 454,965 shares of the company's stock worth $11,829,000 after acquiring an additional 63,027 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in 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 acquiring an additional 98,876 shares in the last quarter. Institutional investors and hedge funds own 84.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CWEN. Cibc World Mkts lowered shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Jefferies Financial Group boosted their price objective on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, CIBC cut 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 note on Saturday, July 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $36.33.

Clearway Energy Price Performance

Shares of NYSE:CWEN traded up $0.64 on Thursday, reaching $32.72. 220,320 shares of the company were exchanged, compared to its average volume of 918,739. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 40.90, a price-to-earnings-growth ratio of 0.79 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 50-day moving average of $31.54 and a 200-day moving average of $29.18. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. The firm had revenue of $298.00 million for the quarter, compared to analysts' expectations of $305.74 million. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The firm's revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. Equities analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

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.