Aventail Capital Group LP Decreases Position in Clearway Energy, Inc. $CWEN

Aventail Capital Group LP cut its stake in Clearway Energy, Inc. (NYSE:CWEN) by 50.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,540 shares of the company’s stock after selling 88,517 shares during the quarter. Aventail Capital Group LP’s holdings in Clearway Energy were worth $2,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CWEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Clearway Energy by 12.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company’s stock valued at $1,070,000 after buying an additional 3,787 shares in the last quarter. Jump Financial LLC purchased a new position in Clearway Energy in the 2nd quarter valued at about $215,000. Cerity Partners LLC lifted its stake in Clearway Energy by 1.8% in the 2nd quarter. Cerity Partners LLC now owns 68,489 shares of the company’s stock valued at $2,192,000 after buying an additional 1,180 shares in the last quarter. Brevan Howard Capital Management LP lifted its stake in Clearway Energy by 233.7% in the 2nd quarter. Brevan Howard Capital Management LP now owns 45,896 shares of the company’s stock valued at $1,469,000 after buying an additional 32,144 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in Clearway Energy in the 2nd quarter valued at about $2,352,000. 84.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CWEN. Weiss Ratings lowered shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. Morgan Stanley raised their target price on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Clearway Energy in a research note on Thursday, April 9th. Royal Bank Of Canada raised their target price 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. Finally, Wall Street Zen raised shares of Clearway Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Clearway Energy presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Clearway Energy Trading Down 2.2%

CWEN opened at $36.86 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The company’s 50 day simple moving average is $39.05 and its two-hundred day simple moving average is $37.36. Clearway Energy, Inc. has a 1-year low of $27.67 and a 1-year high of $41.74. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 921.71 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last released its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%.The business had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $340.75 million. Analysts expect that Clearway Energy, Inc. will post -0.87 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.4676 per share. The ex-dividend date was Monday, June 1st. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.1%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s payout ratio is 4,675.00%.

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.