AQR Capital Management LLC Sells 1,115 Shares of Clearway Energy, Inc. (NYSE:CWEN)

AQR Capital Management LLC lowered its position in Clearway Energy, Inc. (NYSE:CWEN) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,847 shares of the company’s stock after selling 1,115 shares during the period. AQR Capital Management LLC’s holdings in Clearway Energy were worth $688,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Apollo Management Holdings L.P. raised its position in shares of 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 worth $37,924,000 after acquiring an additional 456,197 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Clearway Energy in the 2nd quarter worth approximately $32,310,000. Point72 Asset Management L.P. grew its stake in shares of 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 worth $25,106,000 after buying an additional 384,837 shares during the last quarter. Yaupon Capital Management LP purchased a new stake in shares of Clearway Energy in the 1st quarter worth approximately $7,346,000. Finally, HITE Hedge Asset Management LLC grew its stake in shares of Clearway Energy by 130.7% in the 2nd quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company’s stock worth $6,722,000 after buying an additional 154,239 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Stock Up 0.4 %

NYSE CWEN opened at $27.68 on Monday. Clearway Energy, Inc. has a 52 week low of $20.63 and a 52 week high of $30.92. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $28.86 and its 200-day simple moving average is $26.57. The firm has a market cap of $5.60 billion, a PE ratio of 41.94, a P/E/G ratio of 2.35 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.23). The company had revenue of $366.00 million for 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%. The firm’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, equities analysts anticipate that Clearway Energy, Inc. will post 0.85 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd were given a $0.417 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.41. This represents a $1.67 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend was Tuesday, September 3rd. Clearway Energy’s payout ratio is currently 251.52%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CWEN. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. Jefferies Financial Group began coverage on Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 target price on the stock. BNP Paribas initiated coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target on the stock. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Clearway Energy Company Profile

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.