Jefferies Financial Group Inc. Takes $994,000 Position in Clearway Energy, Inc. $CWEN

Jefferies Financial Group Inc. bought a new stake in Clearway Energy, Inc. (NYSE:CWEN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,895 shares of the company’s stock, valued at approximately $994,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Clearway Energy by 280.9% in the third 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 period. National Bank of Canada FI raised its stake in shares of Clearway Energy by 201.9% in the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after acquiring an additional 652 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Clearway Energy by 94.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after acquiring an additional 600 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Clearway Energy in the second quarter valued at $43,000. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Clearway Energy in the fourth quarter valued at $56,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Wall Street Analyst Weigh In

CWEN has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday. Zacks Research cut shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Roth Mkm restated a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Clearway Energy in a report on Tuesday, February 24th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Clearway Energy in a report on Thursday, April 9th. Finally, Weiss Ratings cut shares of Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Clearway Energy has an average rating of “Moderate Buy” and an average price target of $43.00.

Clearway Energy Stock Up 0.6%

Shares of Clearway Energy stock opened at $40.65 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. Clearway Energy, Inc. has a 1 year low of $27.67 and a 1 year high of $41.60. The firm’s 50-day moving average is $39.09 and its two-hundred day moving average is $37.05. The stock has a market cap of $8.35 billion, a price-to-earnings ratio of 1,016.60 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.90). Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%.The business had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. As a group, research analysts expect that Clearway Energy, Inc. will post -0.41 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.4676 per share. The ex-dividend date of this dividend is Monday, June 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 annualized dividend and a dividend yield of 4.6%. Clearway Energy’s payout ratio is currently 4,600.00%.

Clearway Energy Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.