Tortoise Capital Advisors L.L.C. Sells 21,871 Shares of Clearway Energy, Inc. $CWEN

Key Points

• Tortoise Capital Advisors reduced its stake in Clearway Energy, Inc. by 0.8%, owning 2,777,047 shares after selling 21,871 shares in the first quarter.
• Clearway Energy announced a quarterly dividend increase to $0.4456, with an annual yield of 6.0%, to be paid on September 16th.
• The company reported a miss in earnings for the last quarter, with $0.28 EPS against expectations of $0.67, alongside a revenue shortfall of $392 million compared to the consensus estimate of $428.33 million.

Tortoise Capital Advisors L.L.C. reduced its holdings in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,777,047 shares of the company's stock after selling 21,871 shares during the quarter. Clearway Energy accounts for 1.0% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 19th largest position. Tortoise Capital Advisors L.L.C. owned about 1.37% of Clearway Energy worth $84,061,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in shares of Clearway Energy during the 1st quarter valued at $27,000. Tsfg LLC acquired a new position in shares of Clearway Energy in the 1st quarter worth $61,000. NBT Bank N A NY acquired a new position in shares of Clearway Energy in the 1st quarter worth $71,000. SBI Securities Co. Ltd. grew its holdings in shares of Clearway Energy by 48.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company's stock worth $89,000 after acquiring an additional 966 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Clearway Energy by 48.6% in the fourth quarter. Quarry LP now owns 5,454 shares of the company's stock worth $142,000 after buying an additional 1,783 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Up 1.2%

NYSE CWEN traded up $0.3450 during trading on Friday, hitting $30.0750. 775,396 shares of the company traded hands, compared to its average volume of 985,007. Clearway Energy, Inc. has a 12 month low of $24.40 and a 12 month high of $33.22. The business has a fifty day simple moving average of $31.53 and a 200 day simple moving average of $29.81. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $6.08 billion, a P/E ratio of 46.27, a PEG ratio of 1.02 and a beta of 0.87.

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 the consensus estimate of $0.67 by ($0.39). Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The company had revenue of $392.00 million for the quarter, compared to the consensus estimate of $428.33 million. During the same quarter last year, the business earned $0.43 earnings per share. Clearway Energy's quarterly revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.4456 per share. This represents a $1.78 annualized dividend and a yield of 5.9%. This is an increase from Clearway Energy's previous quarterly dividend of $0.44. The ex-dividend date is Tuesday, September 2nd. Clearway Energy's dividend payout ratio is 269.23%.

Wall Street Analyst Weigh In

CWEN has been the subject of several recent analyst reports. Wall Street Zen cut Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Jefferies Financial Group raised their target price on Clearway Energy from $37.00 to $39.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. CIBC cut Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price for the company. in a research report on Saturday, July 19th. Finally, Cibc World Mkts cut Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 21st. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Clearway Energy currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.40.

Clearway Energy Company 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.