Tudor Investment Corp ET AL Increases Stock Holdings in Clearway Energy, Inc. $CWEN

Key Points

• Tudor Investment Corp increased its stake in Clearway Energy by 253.6% in Q3, buying an additional 109,404 shares to hold 152,549 shares valued at about $4.31 million (0.07% of the company).
• Clearway reported a quarterly earnings miss—EPS of -$0.89 vs. a -$0.21 consensus—and revenue of $310 million versus the $334.42 million estimate, signaling weaker-than-expected results for the period.
• Clearway raised its quarterly dividend to $0.4602 (annualized $1.84), yielding about 4.5%, though the payout ratio is high at 129.58%.

Tudor Investment Corp ET AL lifted its stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 253.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 152,549 shares of the company's stock after buying an additional 109,404 shares during the quarter. Tudor Investment Corp ET AL owned 0.07% of Clearway Energy worth $4,310,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Ballentine Partners LLC raised its holdings in shares of Clearway Energy by 2.3% during the 3rd quarter. Ballentine Partners LLC now owns 16,763 shares of the company's stock valued at $474,000 after buying an additional 371 shares during the period. Measured Risk Portfolios Inc. increased its stake in Clearway Energy by 0.6% during the 3rd quarter. Measured Risk Portfolios Inc. now owns 79,228 shares of the company's stock worth $2,238,000 after buying an additional 469 shares during the period. James Investment Research Inc. increased its stake in Clearway Energy by 6.3% during the 3rd quarter. James Investment Research Inc. now owns 7,966 shares of the company's stock worth $225,000 after buying an additional 473 shares during the period. Abundance Wealth Counselors increased its stake in Clearway Energy by 1.5% during the 3rd quarter. Abundance Wealth Counselors now owns 39,760 shares of the company's stock worth $1,123,000 after buying an additional 602 shares during the period. Finally, National Bank of Canada FI increased its stake in Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company's stock worth $28,000 after buying an additional 652 shares during the period. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Price Performance

CWEN opened at $40.82 on Friday. The company has a 50-day moving average of $38.88 and a 200-day moving average of $35.20. The company has a market capitalization of $8.38 billion, a P/E ratio of 28.75, a PEG ratio of 2.80 and a beta of 0.91. Clearway Energy, Inc. has a 1-year low of $26.97 and a 1-year high of $41.51. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.06 and a current ratio of 1.13.

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

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a $0.4602 dividend. This is a positive change from Clearway Energy's previous quarterly dividend of $0.45. The ex-dividend date was Monday, March 2nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 4.5%. Clearway Energy's dividend payout ratio (DPR) is presently 129.58%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce raised shares of Clearway Energy from a "neutral" rating to a "sector outperform" rating and lifted their price target for the stock from $37.00 to $38.00 in a research note on Tuesday, December 16th. UBS Group set a $45.00 price target on shares of Clearway Energy in a research note on Tuesday, February 24th. Royal Bank Of Canada lifted their price target on shares of Clearway Energy from $38.00 to $42.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 24th. Weiss Ratings restated a "hold (c)" rating on shares of Clearway Energy in a report on Wednesday, January 21st. Finally, Wall Street Zen downgraded 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 issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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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