Two Sigma Advisers LP acquired a new position in Clearway Energy Inc (NYSE:CWEN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 33,700 shares of the company’s stock, valued at approximately $581,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Republic Investment Management Inc. bought a new stake in shares of Clearway Energy in the 3rd quarter valued at about $222,000. Paloma Partners Management Co bought a new stake in shares of Clearway Energy in the 3rd quarter valued at about $215,000. BlueMountain Capital Management LLC bought a new stake in shares of Clearway Energy in the 3rd quarter valued at about $221,000. Glenmede Trust Co. NA bought a new stake in shares of Clearway Energy in the 3rd quarter valued at about $773,000. Finally, Griffin Asset Management Inc. bought a new stake in shares of Clearway Energy in the 3rd quarter valued at about $684,000. Institutional investors and hedge funds own 31.15% of the company’s stock.
A number of research firms recently issued reports on CWEN. ValuEngine raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Zacks Investment Research raised Clearway Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, April 22nd. Macquarie cut Clearway Energy from an “outperform” rating to a “neutral” rating in a research note on Friday, February 15th. Finally, Guggenheim cut Clearway Energy from a “neutral” rating to a “sell” rating and set a $11.00 target price for the company. in a research note on Wednesday, February 13th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.50.
Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.20). Clearway Energy had a return on equity of 0.53% and a net margin of 1.15%. The firm had revenue of $217.00 million for the quarter, compared to analyst estimates of $230.11 million. During the same period last year, the company earned $0.16 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Clearway Energy Inc will post 1.03 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date is Friday, May 31st. Clearway Energy’s dividend payout ratio (DPR) is currently 173.91%.
In other news, SVP Kevin P. Malcarney purchased 10,250 shares of Clearway Energy stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $14.58 per share, with a total value of $149,445.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher S. Sotos acquired 6,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $14.49 per share, with a total value of $94,185.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 19,450 shares of company stock valued at $283,563. Insiders own 0.24% of the company’s stock.
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About Clearway Energy
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.
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