Sanctuary Advisors LLC Buys New Position in Clearway Energy, Inc. (NYSE:CWEN)

Sanctuary Advisors LLC bought a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 124,588 shares of the company's stock, valued at approximately $3,532,000. Sanctuary Advisors LLC owned 0.06% of Clearway Energy at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Clearway Energy in the third quarter worth about $50,000. Whittier Trust Co. grew its position in shares of Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company's stock worth $50,000 after acquiring an additional 512 shares during the last quarter. Quarry LP increased its stake in shares of 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 during the period. Icon Wealth Advisors LLC bought a new stake in Clearway Energy during the 3rd quarter valued at $106,000. Finally, Recurrent Investment Advisors LLC acquired a new position in Clearway Energy during the 3rd quarter worth $202,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Stock Down 2.5 %

Shares of CWEN stock traded down $0.67 on Tuesday, reaching $26.10. 821,460 shares of the company's stock traded hands, compared to its average volume of 861,278. The business's 50 day moving average price is $27.79 and its two-hundred day moving average price is $27.60. The company has a market capitalization of $5.28 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 1.24 and a beta of 0.86. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. Clearway Energy, Inc. has a 12-month low of $20.63 and a 12-month high of $30.92.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.48 by ($0.17). The business had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Clearway Energy's revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 EPS. On average, equities analysts forecast that Clearway Energy, Inc. will post 0.82 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.424 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.50%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.42. Clearway Energy's dividend payout ratio (DPR) is 162.50%.

Insider Activity

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the sale, the director now directly owns 8,153 shares of the company's stock, valued at $218,011.22. The trade was a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Clearway Energy in a research report on Friday, September 20th. They issued a "buy" rating and a $35.00 target price for the company. CIBC raised their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an "outperformer" rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, November 30th. Finally, BNP Paribas began coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Clearway Energy presently has an average rating of "Moderate Buy" and an average price target of $33.13.

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.