ExodusPoint Capital Management LP Makes New Investment in Clearway Energy, Inc. (NYSE:CWEN)

ExodusPoint Capital Management LP acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 76,447 shares of the company’s stock, valued at approximately $2,395,000.

Other institutional investors have also recently modified their holdings of the company. Congress Wealth Management LLC DE increased its position in shares of Clearway Energy by 32.2% during the 1st quarter. Congress Wealth Management LLC DE now owns 13,880 shares of the company’s stock valued at $435,000 after purchasing an additional 3,382 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in Clearway Energy by 17.2% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 21,838 shares of the company’s stock worth $684,000 after acquiring an additional 3,197 shares during the last quarter. Mackenzie Financial Corp grew its position in Clearway Energy by 5.8% during the 1st quarter. Mackenzie Financial Corp now owns 11,759 shares of the company’s stock worth $368,000 after acquiring an additional 643 shares during the last quarter. Occidental Asset Management LLC grew its position in Clearway Energy by 2.1% during the 1st quarter. Occidental Asset Management LLC now owns 72,566 shares of the company’s stock worth $2,273,000 after acquiring an additional 1,493 shares during the last quarter. Finally, HighTower Advisors LLC grew its position in Clearway Energy by 4.2% during the 4th quarter. HighTower Advisors LLC now owns 36,889 shares of the company’s stock worth $1,178,000 after acquiring an additional 1,484 shares during the last quarter. 33.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CWEN has been the topic of several recent research reports. TheStreet lowered Clearway Energy from a “b-” rating to a “c” rating in a research report on Tuesday, August 8th. StockNews.com started coverage on Clearway Energy in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Oppenheimer dropped their price objective on Clearway Energy from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Clearway Energy has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Insider Activity

In related news, CEO Christopher S. Sotos acquired 4,000 shares of the stock in a transaction on Monday, August 14th. The stock was acquired at an average price of $23.68 per share, for a total transaction of $94,720.00. Following the completion of the purchase, the chief executive officer now owns 31,100 shares of the company’s stock, valued at $736,448. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Clearway Energy Trading Down 1.4 %

NYSE CWEN opened at $24.78 on Friday. Clearway Energy, Inc. has a fifty-two week low of $23.60 and a fifty-two week high of $39.75. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.04 and a current ratio of 2.13. The stock has a 50 day simple moving average of $26.53 and a two-hundred day simple moving average of $29.26. The stock has a market cap of $5.01 billion, a P/E ratio of 34.90 and a beta of 0.70.

Clearway Energy (NYSE:CWEN) last released its earnings results on Tuesday, August 8th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.22). The firm had revenue of $406.00 million during the quarter, compared to analysts’ expectations of $375.59 million. Clearway Energy had a net margin of 6.30% and a return on equity of 2.00%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($3.86) EPS. On average, analysts forecast that Clearway Energy, Inc. will post 1.11 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.389 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend is Thursday, August 31st. This is a boost from Clearway Energy’s previous quarterly dividend of $0.38. Clearway Energy’s dividend payout ratio (DPR) is presently 215.49%.

Clearway Energy Company Profile

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional, Renewables, and Thermal segments. It has approximately 5,500 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities.