Point72 Asia Singapore Pte. Ltd. Decreases Position in Clearway Energy, Inc. (NYSE:CWEN)

Point72 Asia Singapore Pte. Ltd. lowered its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 84.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,932 shares of the company’s stock after selling 21,061 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Clearway Energy were worth $97,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CWEN. Apollo Management Holdings L.P. grew its stake in Clearway Energy by 38.4% in 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 buying an additional 456,197 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Clearway Energy in the 2nd quarter valued at approximately $32,310,000. Point72 Asset Management L.P. grew its stake in Clearway Energy by 60.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after buying an additional 384,837 shares in the last quarter. First Trust Advisors LP boosted its holdings in Clearway Energy by 4.3% in the 4th quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock valued at $25,032,000 after purchasing an additional 38,032 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Clearway Energy by 144.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock valued at $10,623,000 after purchasing an additional 254,486 shares during the period. Hedge funds and other institutional investors own 38.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CWEN. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. BNP Paribas began coverage on shares of Clearway Energy in a report on Tuesday. They issued an “outperform” rating and a $36.00 price target for the company. Jefferies Financial Group began coverage on shares of Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target for the company. Roth Mkm reissued a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Finally, StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.25.

Clearway Energy Stock Performance

NYSE CWEN opened at $29.56 on Friday. Clearway Energy, Inc. has a 52-week low of $18.59 and a 52-week high of $30.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The company has a market capitalization of $5.98 billion, a P/E ratio of 44.79, a P/E/G ratio of 2.52 and a beta of 0.86. The company has a fifty day moving average of $28.76 and a 200-day moving average of $26.27.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). The business had revenue of $366.00 million during the quarter, compared to analysts’ expectations of $424.59 million. Clearway Energy had a return on equity of 1.80% and a net margin of 7.21%. Clearway Energy’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, equities research analysts predict that Clearway Energy, Inc. will post 0.85 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.417 dividend. This represents a $1.67 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date was Tuesday, September 3rd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.41. Clearway Energy’s dividend payout ratio (DPR) is presently 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.