AXQ Capital LP Makes New Investment in Clearway Energy, Inc. $CWEN

AXQ Capital LP acquired a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) during the 4th quarter, Holdings Channel reports. The fund acquired 16,613 shares of the company’s stock, valued at approximately $553,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Clear Harbor Asset Management LLC purchased a new position in Clearway Energy during the fourth quarter worth about $202,000. Huntington National Bank grew its holdings in Clearway Energy by 92.4% in the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 412 shares during the period. Flputnam Investment Management Co. increased its stake in shares of Clearway Energy by 547.8% during the 4th quarter. Flputnam Investment Management Co. now owns 117,168 shares of the company’s stock valued at $3,897,000 after acquiring an additional 99,082 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Clearway Energy during the 4th quarter worth about $994,000. Finally, Lazard Freres Gestion S.A.S. lifted its holdings in shares of Clearway Energy by 1.4% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 19,770 shares of the company’s stock worth $657,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Morgan Stanley increased their price target on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 27th. Roth Mkm reiterated 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 objective on shares of Clearway Energy in a research note on Thursday, April 9th. Finally, Wall Street Zen raised Clearway Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Clearway Energy Price Performance

CWEN opened at $40.32 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. Clearway Energy, Inc. has a 52-week low of $27.67 and a 52-week high of $41.74. The company has a 50 day moving average of $39.26 and a two-hundred day moving average of $37.19. The company has a market cap of $8.28 billion, a P/E ratio of 1,008.13 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $340.75 million. On average, analysts expect that Clearway Energy, Inc. will post -0.86 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.4676 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.87 annualized dividend and a yield of 4.6%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s payout ratio is currently 4,675.00%.

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.