Clearway Energy, Inc. (NYSE:CWEN) Director Sells $53,480.00 in Stock

Clearway Energy, Inc. (NYSE:CWEN) Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now owns 8,153 shares in the company, valued at $218,011.22. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Clearway Energy Trading Down 0.2 %

NYSE:CWEN opened at $27.28 on Friday. 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 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.51 billion, a PE ratio of 26.23, a P/E/G ratio of 1.26 and a beta of 0.86. The business’s 50 day moving average is $27.83 and its two-hundred day moving average is $27.59.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same quarter last year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. On average, analysts predict that Clearway Energy, Inc. will post 0.82 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.424 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 6.22%. Clearway Energy’s payout ratio is 163.46%.

Analyst Ratings Changes

CWEN has been the subject of several recent research reports. BNP Paribas assumed coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. Jefferies Financial Group began coverage on shares of Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. Finally, CIBC raised their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.13.

Institutional Investors Weigh In On Clearway Energy

Institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. bought a new position in Clearway Energy in the second quarter worth about $32,310,000. Point72 Asset Management L.P. raised its position in shares of Clearway Energy by 60.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock worth $25,106,000 after purchasing an additional 384,837 shares during the period. abrdn plc raised its position in shares of Clearway Energy by 8.7% during the 3rd quarter. abrdn plc now owns 461,200 shares of the company’s stock worth $14,150,000 after purchasing an additional 37,100 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Clearway Energy by 144.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after purchasing an additional 254,486 shares during the last quarter. Finally, Yaupon Capital Management LP boosted its position in Clearway Energy by 209.3% during the 3rd quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock valued at $9,991,000 after purchasing an additional 220,360 shares during the period. Institutional investors own 84.53% of the company’s stock.

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.