Rep. Maria Elvira Salazar Sells Off Clearway Energy, Inc. (NYSE:CWEN) Shares

Representative Maria Elvira Salazar (R-Florida) recently sold shares of Clearway Energy, Inc. NYSE: CWEN. In a filing disclosed on November 11th, the Representative disclosed that they had sold between $15,001 and $50,000 in Clearway Energy stock on October 25th.

Representative Maria Elvira Salazar also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Antero Resources NYSE: AR on 10/31/2024.
• Purchased $15,001 - $50,000 in shares of Occidental Petroleum NYSE: OXY on 10/25/2024.

Clearway Energy Stock Performance

CWEN stock traded up $0.26 during midday trading on Wednesday, hitting $26.95. 679,506 shares of the stock traded hands, compared to its average volume of 874,086. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92. The stock's fifty day simple moving average is $28.26 and its 200-day simple moving average is $27.22. The firm has a market cap of $5.45 billion, a P/E ratio of 25.91, a PEG ratio of 2.36 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate 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%. The firm's revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. On average, analysts expect that Clearway Energy, Inc. will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.424 dividend. This is a boost from Clearway Energy's previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy's payout ratio is currently 162.50%.

Analyst Ratings Changes

CWEN has been the topic of a number of research reports. BNP Paribas initiated coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 price target on the stock. StockNews.com raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a research note on Friday, August 9th. Roth Mkm reiterated a "buy" rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Morgan Stanley upgraded Clearway Energy from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group assumed coverage on Clearway Energy in a research report on Friday, September 20th. They set a "buy" rating and a $35.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.13.

Institutional Trading of Clearway Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CWEN. Apollo Management Holdings L.P. lifted its stake in Clearway Energy by 38.4% during the first quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company's stock worth $37,924,000 after purchasing an additional 456,197 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in Clearway Energy during the second quarter worth about $32,310,000. Point72 Asset Management L.P. lifted its holdings in 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 buying an additional 384,837 shares in the last quarter. abrdn plc boosted its holdings in Clearway Energy by 8.7% in the third quarter. abrdn plc now owns 461,200 shares of the company's stock valued at $14,150,000 after purchasing an additional 37,100 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Clearway Energy by 144.8% during 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 period. 38.03% of the stock is owned by institutional investors and hedge funds.

About Representative Salazar

Maria Elvira Salazar (Republican Party) is a member of the U.S. House, representing Florida's 27th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Salazar (Republican Party) is running for re-election to the U.S. House to represent Florida's 27th Congressional District. She declared candidacy for the Republican primary scheduled on August 20, 2024. Maria Elvira Salazar was born in Miami, Florida, and lives in Coral Gables, Florida. Salazar earned an undergraduate degree from the University of Miami in 1983 and a graduate degree from Harvard University in 1995. Her career experience includes working as a television journalist, reporter, and news anchor.

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.