ABC Arbitrage SA Makes New $504,000 Investment in Clearway Energy, Inc. $CWEN

ABC Arbitrage SA purchased a new stake in Clearway Energy, Inc. (NYSE:CWEN) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,759 shares of the company’s stock, valued at approximately $504,000.

Other large investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Clearway Energy in the 2nd quarter worth approximately $356,000. AGF Management Ltd. increased its holdings in shares of Clearway Energy by 33.7% in the second quarter. AGF Management Ltd. now owns 21,830 shares of the company’s stock valued at $699,000 after buying an additional 5,497 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of Clearway Energy in the second quarter valued at $594,000. Prudent Man Advisors LLC lifted its position in shares of Clearway Energy by 3.9% during the 2nd quarter. Prudent Man Advisors LLC now owns 27,234 shares of the company’s stock valued at $871,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Clearway Energy by 207.5% during the 2nd quarter. Asset Management One Co. Ltd. now owns 44,907 shares of the company’s stock worth $1,437,000 after acquiring an additional 30,305 shares in the last quarter. Institutional investors own 84.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CWEN. Evercore ISI initiated coverage on Clearway Energy in a report on Monday, October 6th. They set an “in-line” rating and a $34.00 target price for the company. Cibc World Mkts lowered shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Roth Capital reiterated a “buy” rating and issued a $39.00 target price (up from $38.00) on shares of Clearway Energy in a report on Wednesday, November 5th. Royal Bank Of Canada assumed coverage on shares of Clearway Energy in a research report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.71.

Clearway Energy Trading Up 0.7%

NYSE:CWEN opened at $35.76 on Thursday. The company’s 50 day moving average is $30.79 and its 200-day moving average is $30.77. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. Clearway Energy, Inc. has a 12 month low of $24.40 and a 12 month high of $35.95. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 0.84 and a beta of 0.93.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $1.68. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The business had revenue of $429.00 million during the quarter, compared to the consensus estimate of $427.72 million. During the same period in the prior year, the firm earned $0.31 EPS. Clearway Energy’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities analysts anticipate that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.4528 per share. This represents a $1.81 dividend on an annualized basis and a yield of 5.1%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date is Monday, December 1st. Clearway Energy’s dividend payout ratio is currently 76.07%.

Clearway Energy 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.