Maven Securities LTD Makes New $667,000 Investment in Clearway Energy, Inc. $CWEN

Maven Securities LTD acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 19,522 shares of the company’s stock, valued at approximately $667,000.

Several other large investors have also made changes to their positions in the business. Clearbridge Investments LLC raised its holdings in shares of Clearway Energy by 26.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock worth $154,890,000 after purchasing an additional 981,488 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Clearway Energy by 3,220.4% in the second quarter. California State Teachers Retirement System now owns 4,631,971 shares of the company’s stock valued at $158,321,000 after purchasing an additional 4,492,472 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Clearway Energy by 0.9% in the first quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock valued at $33,169,000 after purchasing an additional 7,215 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Clearway Energy during the 4th quarter worth about $21,906,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Clearway Energy by 1.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock worth $12,290,000 after purchasing an additional 5,142 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Stock Up 4.3%

Clearway Energy stock opened at $33.19 on Wednesday. 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 stock has a market capitalization of $6.81 billion, a PE ratio of 43.67 and a beta of 0.87. The business has a 50 day simple moving average of $32.82 and a 200-day simple moving average of $36.63. Clearway Energy, Inc. has a 12 month low of $27.67 and a 12 month high of $41.74.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.76. The firm had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. On average, analysts anticipate that Clearway Energy, Inc. will post -0.5 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.475 per share. This is a boost from Clearway Energy’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, September 1st. This represents a $1.90 annualized dividend and a dividend yield of 5.7%. Clearway Energy’s payout ratio is currently 250.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CWEN. Truist Financial started coverage on Clearway Energy in a report on Monday, July 13th. They issued a “buy” rating and a $43.00 price objective for the company. UBS Group raised their target price on Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Evercore reiterated a “positive” rating and set a $40.00 price target on shares of Clearway Energy in a research report on Monday, August 17th. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $38.00 price objective on shares of Clearway Energy in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $43.78.

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.