Foresight Group Ltd Liability Partnership Has $15.50 Million Position in Clearway Energy, Inc. (NYSE:CWEN)

Foresight Group Ltd Liability Partnership lowered its position in Clearway Energy, Inc. (NYSE:CWEN) by 8.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 627,715 shares of the company’s stock after selling 58,545 shares during the period. Clearway Energy accounts for approximately 6.6% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 7th largest position. Foresight Group Ltd Liability Partnership owned 0.31% of Clearway Energy worth $15,498,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Apollo Management Holdings L.P. boosted its position in shares of Clearway Energy by 38.4% during the 1st quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock valued at $37,924,000 after purchasing an additional 456,197 shares in the last quarter. First Trust Advisors LP lifted its stake in Clearway Energy by 4.3% in the fourth quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock valued at $25,032,000 after buying an additional 38,032 shares during the period. Westwood Holdings Group Inc. acquired a new position in Clearway Energy in the fourth quarter valued at approximately $9,807,000. Pinebridge Investments L.P. lifted its stake in Clearway Energy by 31.8% in the fourth quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock valued at $9,202,000 after buying an additional 80,962 shares during the period. Finally, Yaupon Capital Management LP acquired a new position in Clearway Energy in the first quarter valued at approximately $7,346,000. 38.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CWEN has been the topic of several recent analyst reports. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Roth Mkm reissued a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Clearway Energy presently has an average rating of “Moderate Buy” and an average target price of $31.17.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $29.30 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. Clearway Energy, Inc. has a twelve month low of $18.59 and a twelve month high of $29.94. The stock’s 50 day moving average is $27.72 and its 200-day moving average is $25.61. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 44.39, a PEG ratio of 2.24 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. The firm had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. During the same period in the previous year, the company earned $0.33 earnings per share. Clearway Energy’s revenue for the quarter was down 9.9% compared to the same quarter last year. Sell-side analysts forecast that Clearway Energy, Inc. will post 0.9 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.417 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.67 annualized dividend and a yield of 5.69%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio is 251.52%.

About Clearway Energy

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.