RWC Asset Management LLP Sells 611,906 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Key Points

• RWC Asset Management LLP has significantly cut its stake in Clearway Energy, Inc. by 49%, selling 611,906 shares, and now owning approximately 0.32% of the company valued at $19.29 million.
• Clearway Energy is currently rated as a "Moderate Buy" by analysts, with a consensus price target of $36.33, but recently received mixed ratings, including downgrades from CIBC and Wall Street Zen.
• The company declared a quarterly dividend of $0.4384 per share, representing a 5.58% yield, which is an increase from its previous dividend of $0.43.

RWC Asset Management LLP lowered its position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 49.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 637,326 shares of the company's stock after selling 611,906 shares during the period. RWC Asset Management LLP owned about 0.32% of Clearway Energy worth $19,292,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Prudent Man Advisors LLC increased its stake in shares of Clearway Energy by 2.0% during the 1st quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company's stock valued at $794,000 after acquiring an additional 516 shares during the last quarter. Uniplan Investment Counsel Inc. lifted its position in shares of Clearway Energy by 0.9% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company's stock valued at $1,703,000 after acquiring an additional 586 shares during the last quarter. Alps Advisors Inc. raised its position in Clearway Energy by 0.5% during the first quarter. Alps Advisors Inc. now owns 169,464 shares of the company's stock valued at $5,130,000 after buying an additional 862 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of Clearway Energy during the 1st quarter valued at about $27,000. Finally, Ballentine Partners LLC boosted its holdings in Clearway Energy by 5.8% during the first quarter. Ballentine Partners LLC now owns 16,835 shares of the company's stock valued at $510,000 after acquiring an additional 919 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Up 1.5%

Shares of CWEN stock traded up $0.49 on Thursday, hitting $32.57. The stock had a trading volume of 434,186 shares, compared to its average volume of 920,068. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.52 and a quick ratio of 1.42. The business has a 50 day moving average of $31.54 and a 200 day moving average of $29.18. Clearway Energy, Inc. has a 12-month low of $24.40 and a 12-month high of $33.22. The stock has a market cap of $6.59 billion, a price-to-earnings ratio of 40.65, a price-to-earnings-growth ratio of 0.79 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last released 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. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The company had revenue of $298.00 million during the quarter, compared to analyst estimates of $305.74 million. During the same period last year, the business earned ($0.02) earnings per share. Clearway Energy's revenue was up 13.3% compared to the same quarter last year. As a group, analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CWEN. CIBC lowered shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price on the stock. in a research report on Saturday, July 19th. Cibc World Mkts cut shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Jefferies Financial Group raised their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.33.

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.