Tudor Investment Corp ET AL Has $4.31 Million Position in Clearway Energy, Inc. $CWEN

Key Points

• Tudor Investment Corp. boosted its stake in Clearway Energy by 253.6% in Q3 to 152,549 shares (about $4.31M), and institutional investors now own 84.53% of the company.
• Clearway missed quarterly expectations, reporting ($0.89) EPS vs. a ($0.21) consensus and $310M in revenue vs. a $334.42M estimate.
• The company raised its quarterly dividend to $0.4602 (annualized $1.84), a 4.7% yield, though the payout ratio is high at 129.58%.

Tudor Investment Corp ET AL grew its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 253.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 152,549 shares of the company's stock after acquiring an additional 109,404 shares during the period. Tudor Investment Corp ET AL owned about 0.07% of Clearway Energy worth $4,310,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CWEN. First Trust Advisors LP raised its holdings in Clearway Energy by 3.7% during the 2nd quarter. First Trust Advisors LP now owns 2,171,301 shares of the company's stock worth $69,482,000 after purchasing an additional 77,595 shares during the last quarter. RWC Asset Management LLP boosted its stake in shares of Clearway Energy by 12.2% in the 3rd quarter. RWC Asset Management LLP now owns 745,537 shares of the company's stock valued at $21,061,000 after purchasing an additional 81,349 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in shares of Clearway Energy by 8.8% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company's stock worth $17,656,000 after buying an additional 50,344 shares during the period. Aberdeen Group plc increased its position in shares of Clearway Energy by 0.3% during the third quarter. Aberdeen Group plc now owns 580,307 shares of the company's stock worth $16,463,000 after buying an additional 1,807 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Clearway Energy by 1.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company's stock worth $12,290,000 after buying an additional 5,142 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company's stock.

Clearway Energy Price Performance

CWEN stock opened at $39.15 on Thursday. The stock has a market capitalization of $8.03 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 2.71 and a beta of 0.95. The company's 50-day moving average is $38.07 and its 200-day moving average is $34.37. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.13 and a quick ratio of 1.06. Clearway Energy, Inc. has a 1 year low of $25.63 and a 1 year high of $41.51.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Monday, February 23rd. The company reported ($0.89) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.68). Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. The firm had revenue of $310.00 million during the quarter, compared to the consensus estimate of $334.42 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. Equities research analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.4602 per share. This is a positive change from Clearway Energy's previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, March 2nd. Clearway Energy's dividend payout ratio is presently 129.58%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Zacks Research cut shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Canadian Imperial Bank of Commerce upgraded Clearway Energy from a "neutral" rating to a "sector outperform" rating and upped their target price for the company from $37.00 to $38.00 in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Roth Mkm reiterated a "buy" rating and issued a $45.00 target price (up from $40.00) on shares of Clearway Energy in a report on Tuesday, February 24th. Finally, Wall Street Zen cut Clearway Energy from a "hold" rating to a "strong sell" rating in a report on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.50.

About Clearway Energy

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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