San Luis Wealth Advisors LLC Acquires New Position in Clearway Energy, Inc. (NYSE:CWEN)

San Luis Wealth Advisors LLC bought a new position in Clearway Energy, Inc. (NYSE:CWEN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 29,558 shares of the company's stock, valued at approximately $769,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Clearway Energy during the 3rd quarter worth $50,000. Quarry LP boosted its holdings in Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company's stock worth $60,000 after purchasing an additional 843 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Clearway Energy in the 3rd quarter worth about $71,000. Icon Wealth Advisors LLC purchased a new stake in Clearway Energy in the 3rd quarter valued at about $106,000. Finally, Recurrent Investment Advisors LLC purchased a new stake in Clearway Energy in the 3rd quarter valued at about $202,000. Institutional investors and hedge funds own 84.53% of the company's stock.

Wall Street Analysts Forecast Growth

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

Clearway Energy Stock Performance

CWEN traded up $0.17 during trading hours on Wednesday, hitting $25.25. The stock had a trading volume of 560,751 shares, compared to its average volume of 640,382. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The stock has a market cap of $5.10 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.24 and a beta of 0.88. 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's fifty day simple moving average is $27.21 and its 200 day simple moving average is $27.50.

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

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.72%. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 2nd. Clearway Energy's dividend payout ratio is presently 162.50%.

Insider Activity

In related news, Director Brian R. Ford sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the sale, the director now owns 8,153 shares in the company, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Clearway Energy 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.