Point72 Asset Management L.P. Buys 384,837 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Point72 Asset Management L.P. boosted its holdings in Clearway Energy, Inc. (NYSE:CWEN) by 60.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,016,837 shares of the company’s stock after purchasing an additional 384,837 shares during the quarter. Point72 Asset Management L.P.’s holdings in Clearway Energy were worth $25,106,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Apollo Management Holdings L.P. lifted its position in Clearway Energy by 38.4% in the 1st quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock valued at $37,924,000 after acquiring an additional 456,197 shares in the last quarter. 1832 Asset Management L.P. bought a new position in Clearway Energy in the 2nd quarter valued at about $32,310,000. First Trust Advisors LP lifted its position in Clearway Energy by 4.3% in the 4th quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock valued at $25,032,000 after acquiring an additional 38,032 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in Clearway Energy in the 4th quarter valued at about $9,807,000. Finally, Pinebridge Investments L.P. lifted its position in Clearway Energy by 31.8% in the 4th quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock valued at $9,202,000 after acquiring an additional 80,962 shares in the last quarter. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Trading Down 1.5 %

Shares of CWEN stock opened at $30.02 on Friday. The company has a 50 day moving average of $28.25 and a 200-day moving average of $25.91. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. Clearway Energy, Inc. has a 12-month low of $18.59 and a 12-month high of $30.64. The firm has a market cap of $6.07 billion, a P/E ratio of 45.48, a PEG ratio of 2.52 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The company had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $424.59 million. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Sell-side analysts anticipate that Clearway Energy, Inc. will post 0.85 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.417 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.67 annualized dividend and a dividend yield of 5.56%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio (DPR) is presently 251.52%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CWEN shares. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Finally, Roth Mkm reiterated a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.71.

Clearway Energy Company 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.