Squarepoint Ops LLC Has $7.09 Million Stock Position in Clearway Energy, Inc. $CWEN

Squarepoint Ops LLC grew its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 276.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 207,332 shares of the company’s stock after acquiring an additional 152,292 shares during the period. Squarepoint Ops LLC’s holdings in Clearway Energy were worth $7,087,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CWEN. Caitong International Asset Management Co. Ltd lifted its stake in shares of Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after acquiring an additional 705 shares during the last quarter. National Bank of Canada FI grew its position in Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after acquiring an additional 652 shares during the last quarter. Huntington National Bank increased its holdings in Clearway Energy by 92.4% in the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 412 shares in the last quarter. Allied Private Wealth LLC bought a new position in Clearway Energy in the second quarter valued at about $35,000. Finally, Headlands Technologies LLC bought a new position in Clearway Energy in the second quarter valued at about $43,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CWEN shares. Truist Financial began coverage on Clearway Energy in a research note on Monday, July 13th. They set a “buy” rating and a $43.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Clearway Energy in a report on Friday, September 4th. Weiss Ratings upgraded shares of Clearway Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. UBS Group boosted their target price on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Canadian Imperial Bank of Commerce set a $42.00 price target on shares of Clearway Energy in a research report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $43.78.

Clearway Energy Trading Down 1.5%

NYSE:CWEN opened at $31.58 on Friday. Clearway Energy, Inc. has a 52 week low of $27.67 and a 52 week high of $41.74. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. The firm’s fifty day moving average is $32.76 and its 200-day moving average is $36.52. The firm has a market cap of $6.48 billion, a P/E ratio of 41.55 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.76. The business had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. Equities analysts expect that Clearway Energy, Inc. will post -0.5 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Tuesday, September 1st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.47. Clearway Energy’s dividend payout ratio (DPR) is 250.00%.

Clearway Energy Profile

Clearway Energy, Inc (NYSE: CWEN) is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company’s renewable portfolio includes wind and solar generation facilities, along with battery storage assets.