Point72 Asia Singapore Pte. Ltd. Decreases Stock Holdings in Clearway Energy, Inc. (NYSE:CWEN)

Point72 Asia Singapore Pte. Ltd. decreased its position in Clearway Energy, Inc. (NYSE:CWEN) by 84.3% during the second quarter, Holdings Channel.com reports. The fund owned 3,932 shares of the company’s stock after selling 21,061 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Clearway Energy were worth $97,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CWEN. Scarborough Advisors LLC purchased a new position in shares of Clearway Energy in the fourth quarter valued at about $25,000. Mather Group LLC. bought a new stake in Clearway Energy during the first quarter worth about $37,000. Abich Financial Wealth Management LLC boosted its stake in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after acquiring an additional 625 shares in the last quarter. Whittier Trust Co. boosted its stake in Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after acquiring an additional 512 shares in the last quarter. Finally, Quarry LP boosted its stake in Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after acquiring an additional 843 shares in the last quarter. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Clearway Energy Trading Up 1.2 %

Shares of NYSE CWEN opened at $29.56 on Friday. The firm’s 50 day moving average price is $28.76 and its 200-day moving average price is $26.27. The company has a market cap of $5.98 billion, a PE ratio of 44.79, a P/E/G ratio of 2.52 and a beta of 0.86. Clearway Energy, Inc. has a 52-week low of $18.59 and a 52-week high of $30.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46.

Clearway Energy (NYSE:CWEN) last issued its 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). The firm had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The company’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. On average, equities research analysts expect that Clearway Energy, Inc. will post 0.85 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a dividend of $0.417 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.67 dividend on an annualized basis and a yield of 5.64%. Clearway Energy’s dividend payout ratio is 251.52%.

Analyst Ratings Changes

Several research firms recently commented on CWEN. Jefferies Financial Group began coverage on shares of Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. Roth Mkm reissued a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. Finally, BNP Paribas began coverage on shares of Clearway Energy in a research note on Tuesday. They set an “outperform” rating and a $36.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.25.

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.