RWC Asset Management LLP Grows Stock Position in Clearway Energy, Inc. $CWEN

RWC Asset Management LLP lifted its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 12.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 745,537 shares of the company’s stock after acquiring an additional 81,349 shares during the period. Clearway Energy makes up approximately 1.0% of RWC Asset Management LLP’s investment portfolio, making the stock its 29th largest holding. RWC Asset Management LLP’s holdings in Clearway Energy were worth $21,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP increased its stake 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 valued at $69,482,000 after purchasing an additional 77,595 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Clearway Energy by 1,116.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock valued at $13,757,000 after buying an additional 394,579 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Clearway Energy by 33.6% during the third quarter. Nordea Investment Management AB now owns 328,235 shares of the company’s stock valued at $9,250,000 after buying an additional 82,621 shares during the last quarter. Northside Capital Management LLC acquired a new position in shares of Clearway Energy in the 2nd quarter valued at $8,847,000. Finally, Northwest & Ethical Investments L.P. raised its stake in Clearway Energy by 4.1% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 267,053 shares of the company’s stock worth $8,546,000 after acquiring an additional 10,475 shares during the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Stock Performance

CWEN opened at $32.87 on Tuesday. The firm’s fifty day simple moving average is $34.13 and its two-hundred day simple moving average is $31.89. Clearway Energy, Inc. has a 52-week low of $24.40 and a 52-week high of $36.89. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.21 and a beta of 0.95. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The firm had revenue of $429.00 million for the quarter, compared to analyst estimates of $427.72 million. During the same period last year, the company posted $0.31 EPS. Clearway Energy’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities analysts anticipate that Clearway Energy, Inc. will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.4528 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.81 annualized dividend and a yield of 5.5%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio is currently 77.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CWEN shares. CIBC upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and increased their price target for the stock from $37.00 to $38.00 in a report on Tuesday, December 16th. Evercore ISI started coverage on Clearway Energy in a report on Monday, October 6th. They issued an “in-line” rating and a $34.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, October 8th. Zacks Research upgraded Clearway Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Finally, Royal Bank Of Canada started coverage on shares of Clearway Energy in a research note on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.25.

Clearway Energy Company Profile

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.