Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the completion of the sale, the director now owns 8,153 shares of the company's stock, valued at $218,011.22. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Clearway Energy Stock Down 0.2 %
Shares of CWEN opened at $27.29 on Friday. The stock has a market capitalization of $5.52 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.26 and a beta of 0.86. Clearway Energy, Inc. has a 52 week low of $20.63 and a 52 week high of $30.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The stock has a fifty day moving average of $27.83 and a 200-day moving average of $27.59.
Clearway Energy (NYSE:CWEN - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. During the same quarter in the prior year, the business posted $0.03 earnings per share. Clearway Energy's revenue for the quarter was up 31.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Clearway Energy, Inc. will post 0.82 earnings per share for the current fiscal year.
Clearway Energy Increases Dividend
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The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a yield of 6.21%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. Clearway Energy's dividend payout ratio is currently 163.46%.
Wall Street Analyst Weigh In
CWEN has been the subject of a number of analyst reports. CIBC lifted their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an "outperformer" rating in a research report on Tuesday, October 22nd. BNP Paribas initiated coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an "outperform" rating and a $36.00 target price for the company. Jefferies Financial Group began coverage on Clearway Energy in a research report on Friday, September 20th. They issued a "buy" rating and a $35.00 price target on the stock. Finally, StockNews.com downgraded Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, November 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Clearway Energy has an average rating of "Moderate Buy" and a consensus price target of $33.13.
Get Our Latest Analysis on CWEN
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in CWEN. Ashton Thomas Securities LLC acquired a new stake in Clearway Energy during the third quarter worth approximately $50,000. Whittier Trust Co. lifted its position in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company's stock valued at $50,000 after acquiring an additional 512 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Clearway Energy in the third quarter worth $71,000. Quarry LP increased its stake in Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company's stock valued at $60,000 after purchasing an additional 843 shares in the last quarter. Finally, Icon Wealth Advisors LLC acquired a new stake in shares of Clearway Energy in the 3rd quarter valued at about $106,000. 84.53% of the stock is owned by institutional investors and hedge funds.
About Clearway Energy
(
Get Free Report)
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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