Union Bancaire Privee UBP SA Invests $368,000 in Clearway Energy, Inc. $CWEN

Key Points

• Union Bancaire Privee UBP SA has invested approximately $368,000 in Clearway Energy, acquiring 11,490 shares in the second quarter of 2023.
• Clearway Energy recently declared an increase in its quarterly dividend to $0.4456, reflecting a yield of 6.0% despite a high payout ratio of 273.85%.
• Wall Street analysts have issued mixed ratings on Clearway Energy, with most analysts maintaining a "Moderate Buy" consensus and an average target price of $36.50.

Union Bancaire Privee UBP SA purchased a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,490 shares of the company's stock, valued at approximately $368,000.

Several other hedge funds have also recently modified their holdings of CWEN. Alpine Bank Wealth Management purchased a new stake in shares of Clearway Energy in the 1st quarter worth approximately $27,000. Tsfg LLC purchased a new stake in Clearway Energy during the first quarter valued at approximately $61,000. NBT Bank N A NY purchased a new stake in Clearway Energy during the first quarter valued at approximately $71,000. SBI Securities Co. Ltd. lifted its position in Clearway Energy by 48.8% during the first quarter. SBI Securities Co. Ltd. now owns 2,944 shares of the company's stock valued at $89,000 after acquiring an additional 966 shares during the last quarter. Finally, Wealthspire Advisors LLC acquired a new position in Clearway Energy during the 1st quarter valued at approximately $206,000. Hedge funds and other institutional investors own 84.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CWEN shares. Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Jefferies Financial Group increased their price objective on shares of Clearway Energy from $37.00 to $39.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. CIBC lowered shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective on the stock. in a research note on Saturday, July 19th. Finally, Cibc World Mkts downgraded shares of Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $36.50.

Clearway Energy Stock Performance

NYSE:CWEN opened at $29.86 on Thursday. The company's 50-day moving average price is $29.64 and its 200-day moving average price is $30.07. 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 cap of $6.04 billion, a P/E ratio of 45.94, a P/E/G ratio of 1.25 and a beta of 0.89. Clearway Energy, Inc. has a twelve month low of $24.40 and a twelve month high of $33.22.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly 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). The business had revenue of $392.00 million during the quarter, compared to analysts' expectations of $428.33 million. Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. On average, sell-side analysts forecast that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $0.4456 dividend. This is an increase from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Clearway Energy's payout ratio is 273.85%.

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.

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