Tortoise Capital Advisors L.L.C. Sells 284,420 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Tortoise Capital Advisors L.L.C. reduced its stake in shares of Clearway Energy, Inc. (NYSE:CWEN) by 16.2% in the first quarter, Holdings Channel reports. The fund owned 1,466,954 shares of the company’s stock after selling 284,420 shares during the quarter. Clearway Energy accounts for about 0.7% of Tortoise Capital Advisors L.L.C.’s portfolio, making the stock its 24th largest position. Tortoise Capital Advisors L.L.C.’s holdings in Clearway Energy were worth $41,280,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Lombard Odier Asset Management USA Corp bought a new position in shares of Clearway Energy during the 1st quarter valued at approximately $2,111,000. Voloridge Investment Management LLC bought a new position in shares of Clearway Energy during the 1st quarter valued at approximately $830,000. D. E. Shaw & Co. Inc. bought a new position in Clearway Energy in the 1st quarter worth approximately $861,000. Tudor Investment Corp Et Al boosted its holdings in Clearway Energy by 617.0% in the 1st quarter. Tudor Investment Corp Et Al now owns 67,783 shares of the company’s stock worth $1,907,000 after buying an additional 58,329 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in Clearway Energy by 240.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 45,189 shares of the company’s stock worth $1,272,000 after buying an additional 31,933 shares during the period. 35.30% of the stock is owned by hedge funds and other institutional investors.

In other Clearway Energy news, CEO Christopher S. Sotos bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The shares were bought at an average price of $24.55 per share, for a total transaction of $49,100.00. Following the transaction, the chief executive officer now directly owns 27,100 shares in the company, valued at $665,305. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Infrastructure Investor Global bought 16,219 shares of the firm’s stock in a transaction that occurred on Monday, June 14th. The stock was acquired at an average price of $25.70 per share, for a total transaction of $416,828.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 23,590 shares of company stock worth $603,587. Corporate insiders own 0.43% of the company’s stock.

Several research analysts recently commented on the stock. Wolfe Research raised shares of Clearway Energy from a “peer perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a report on Thursday, March 25th. Seaport Global Securities raised shares of Clearway Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, March 30th. Tudor Pickering initiated coverage on shares of Clearway Energy in a report on Friday, April 23rd. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Morgan Stanley raised their price target on shares of Clearway Energy from $31.00 to $32.00 and gave the company an “equal weight” rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $31.60.

Shares of Clearway Energy stock traded up $0.45 on Thursday, hitting $27.75. 27,976 shares of the company traded hands, compared to its average volume of 923,832. The company’s 50-day simple moving average is $26.70. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 2.49. The company has a market capitalization of $5.60 billion, a P/E ratio of 55.28, a P/E/G ratio of 1.42 and a beta of 0.55. Clearway Energy, Inc. has a 12-month low of $22.69 and a 12-month high of $37.23.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, May 6th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.68. The firm had revenue of $237.00 million for the quarter, compared to analysts’ expectations of $244.00 million. Clearway Energy had a net margin of 4.84% and a return on equity of 5.19%. Research analysts forecast that Clearway Energy, Inc. will post 0.72 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Tuesday, June 1st were given a dividend of $0.329 per share. The ex-dividend date of this dividend was Friday, May 28th. This represents a $1.32 annualized dividend and a dividend yield of 4.74%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.32. Clearway Energy’s dividend payout ratio (DPR) is 220.00%.

Clearway Energy Company Profile

Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. As of March 2, 2021, it had approximately 4,200 net megawatts (MW) of installed wind and solar generation projects; and 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.

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Institutional Ownership by Quarter for Clearway Energy (NYSE:CWEN)

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