Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) Director Se Totalenergies acquired 196,964 shares of the firm's stock in a transaction on Thursday, March 28th. The shares were acquired at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the purchase, the director now owns 295,235 shares of the company's stock, valued at $6,749,072.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Clearway Energy Stock Up 0.0 %
Shares of NYSE CWEN opened at $23.06 on Tuesday. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 33.91 and a beta of 0.87. Clearway Energy, Inc. has a 1 year low of $18.59 and a 1 year high of $32.24. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. The stock's 50-day simple moving average is $22.79 and its 200-day simple moving average is $23.50.
Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.15. The company had revenue of $249.00 million for the quarter, compared to analyst estimates of $282.45 million. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. Clearway Energy's quarterly revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. As a group, equities analysts anticipate that Clearway Energy, Inc. will post 0.93 earnings per share for the current fiscal year.
Clearway Energy Increases Dividend
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The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.403 per share. This represents a $1.61 dividend on an annualized basis and a yield of 6.99%. This is an increase from Clearway Energy's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 29th. Clearway Energy's dividend payout ratio is 236.76%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CWEN. Royal Bank of Canada decreased their price target on shares of Clearway Energy from $26.00 to $25.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 27th. Morgan Stanley upped their target price on Clearway Energy from $23.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Friday, March 1st. Oppenheimer raised their target price on Clearway Energy from $33.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, January 19th. Finally, StockNews.com cut Clearway Energy from a "hold" rating to a "sell" rating in a report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.33.
Read Our Latest Research Report on CWEN
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in Clearway Energy by 1.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 54,140 shares of the company's stock worth $1,977,000 after buying an additional 606 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Clearway Energy during the first quarter valued at $256,000. Sei Investments Co. lifted its position in shares of Clearway Energy by 37.7% in the 1st quarter. Sei Investments Co. now owns 130,165 shares of the company's stock worth $4,752,000 after buying an additional 35,662 shares during the last quarter. Ergoteles LLC acquired a new position in shares of Clearway Energy in the 1st quarter valued at about $1,634,000. Finally, Bridgewater Associates LP grew its position in shares of Clearway Energy by 145.6% during the 1st quarter. Bridgewater Associates LP now owns 81,066 shares of the company's stock valued at $2,960,000 after buying an additional 48,052 shares during the last quarter. 38.03% of the stock is owned by institutional investors and hedge funds.
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.
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