RWC Asset Management LLP Sells 219,342 Shares of Clearway Energy, Inc. $CWEN

Key Points

• RWC Asset Management LLP cut its Clearway Energy stake by 29.4% in the fourth quarter, selling 219,342 shares and leaving it with 526,195 shares valued at about $17.5 million.
• Clearway Energy reported a quarterly EPS loss of $1.35, which missed Wall Street expectations, though revenue of $354 million came in above estimates.
• The company raised its quarterly dividend to $0.4676 per share, implying an annualized yield of about 4.7%, while analysts maintain a consensus Moderate Buy rating with a $43 target price.

RWC Asset Management LLP lessened its position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 526,195 shares of the company's stock after selling 219,342 shares during the period. RWC Asset Management LLP owned about 0.26% of Clearway Energy worth $17,501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Freres Gestion S.A.S. grew its position in shares of Clearway Energy by 1.4% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 19,770 shares of the company's stock valued at $657,000 after acquiring an additional 270 shares during the period. Ballentine Partners LLC grew its position in shares of Clearway Energy by 2.0% in the 4th quarter. Ballentine Partners LLC now owns 17,096 shares of the company's stock valued at $569,000 after acquiring an additional 333 shares during the period. Courier Capital LLC grew its position in shares of Clearway Energy by 1.2% in the 4th quarter. Courier Capital LLC now owns 33,193 shares of the company's stock valued at $1,104,000 after acquiring an additional 385 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Clearway Energy by 1.4% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,500 shares of the company's stock valued at $948,000 after acquiring an additional 400 shares during the period. Finally, Huntington National Bank grew its position in shares of Clearway Energy by 92.4% in the 4th quarter. Huntington National Bank now owns 858 shares of the company's stock valued at $29,000 after acquiring an additional 412 shares during the period. Institutional investors own 84.53% of the company's stock.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $39.74 on Monday. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 993.65 and a beta of 0.86. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. The company has a 50-day simple moving average of $39.30 and a 200 day simple moving average of $37.25. Clearway Energy, Inc. has a 52 week low of $27.67 and a 52 week high of $41.74.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.90). The company had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. On average, sell-side analysts predict that Clearway Energy, Inc. will post -0.87 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a $0.4676 dividend. This is a positive change from Clearway Energy's previous quarterly dividend of $0.46. The ex-dividend date is Monday, June 1st. This represents a $1.87 annualized dividend and a yield of 4.7%. Clearway Energy's dividend payout ratio is presently 4,675.00%.

Wall Street Analysts Forecast Growth

CWEN has been the subject of a number of analyst reports. UBS Group set a $45.00 price objective on shares of Clearway Energy in a research report on Tuesday, February 24th. Royal Bank Of Canada lifted their target price on shares of Clearway Energy from $38.00 to $42.00 and gave the stock an "outperform" rating in a report on Tuesday, February 24th. Morgan Stanley lifted their target price on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Clearway Energy in a report on Thursday, April 9th. Finally, Wall Street Zen raised shares of Clearway Energy from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Clearway Energy Profile

Clearway Energy Group NYSE: CWEN is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company's portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway's generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.

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