Aveo Capital Partners LLC Buys Shares of 10,725 Clearway Energy Inc (CWEN)
Aveo Capital Partners LLC bought a new stake in shares of Clearway Energy Inc (NYSE:CWEN) in the first quarter, HoldingsChannel reports. The fund bought 10,725 shares of the company’s stock, valued at approximately $162,000.
Several other institutional investors also recently added to or reduced their stakes in CWEN. Reilly Financial Advisors LLC bought a new position in Clearway Energy in the 1st quarter worth approximately $28,000. Quadrant Capital Group LLC boosted its holdings in Clearway Energy by 903.6% in the 1st quarter. Quadrant Capital Group LLC now owns 3,352 shares of the company’s stock worth $50,000 after buying an additional 3,018 shares during the period. Berman Capital Advisors LLC bought a new position in Clearway Energy in the 4th quarter worth approximately $122,000. Quantamental Technologies LLC bought a new position in Clearway Energy in the 1st quarter worth approximately $157,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Clearway Energy in the 1st quarter worth approximately $193,000. 31.17% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Chad Plotkin bought 2,700 shares of the stock in a transaction on Wednesday, March 6th. The shares were acquired at an average cost of $14.79 per share, for a total transaction of $39,933.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Kevin P. Malcarney bought 10,250 shares of the stock in a transaction on Monday, March 4th. The stock was purchased at an average price of $14.58 per share, for a total transaction of $149,445.00. The disclosure for this purchase can be found here. Insiders acquired a total of 19,450 shares of company stock worth $283,563 over the last quarter. Corporate insiders own 0.24% of the company’s stock.
Clearway Energy (NYSE:CWEN) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.20). Clearway Energy had a return on equity of 0.53% and a net margin of 1.15%. The business had revenue of $217.00 million during the quarter, compared to the consensus estimate of $230.11 million. During the same period last year, the business posted $0.16 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities analysts expect that Clearway Energy Inc will post 1.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 5.16%. The ex-dividend date is Friday, May 31st. Clearway Energy’s dividend payout ratio is presently 173.91%.
Several research firms recently commented on CWEN. ValuEngine downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. Macquarie downgraded shares of Clearway Energy from an “outperform” rating to a “neutral” rating in a report on Friday, February 15th. Zacks Investment Research raised shares of Clearway Energy from a “strong sell” rating to a “hold” rating in a report on Monday, April 22nd. Finally, Guggenheim downgraded shares of Clearway Energy from a “neutral” rating to a “sell” rating and set a $11.00 price objective for the company. in a report on Wednesday, February 13th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Clearway Energy presently has an average rating of “Hold” and a consensus price target of $16.50.
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Clearway Energy Company Profile
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.
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