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

Sanctuary Advisors LLC acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 124,588 shares of the company’s stock, valued at approximately $3,532,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. purchased a new position in shares of Clearway Energy during the 2nd quarter valued at approximately $32,310,000. Point72 Asset Management L.P. boosted its holdings in shares of Clearway Energy by 60.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after buying an additional 384,837 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Clearway Energy by 144.8% during the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock valued at $10,623,000 after purchasing an additional 254,486 shares during the last quarter. Yaupon Capital Management LP grew its stake in Clearway Energy by 209.3% during the 3rd quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock worth $9,991,000 after buying an additional 220,360 shares during the last quarter. Finally, HITE Hedge Asset Management LLC increased its position in Clearway Energy by 130.7% in the second quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company’s stock worth $6,722,000 after buying an additional 154,239 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. BNP Paribas began coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective on the stock. CIBC boosted their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday, November 30th. Finally, 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 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 issued a buy rating to the company’s stock. According to MarketBeat, Clearway Energy presently has an average rating of “Moderate Buy” and an average price target of $33.13.

Insider Buying and Selling

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

Clearway Energy Stock Down 1.9 %

Clearway Energy stock opened at $26.76 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $5.41 billion, a P/E ratio of 25.73, a P/E/G ratio of 1.24 and a beta of 0.86. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92. The firm’s fifty day simple moving average is $27.79 and its 200-day simple moving average is $27.60.

Clearway Energy (NYSE:CWEN) last announced its quarterly 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). The company had revenue of $486.00 million for 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 company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. Sell-side analysts forecast that Clearway Energy, Inc. will post 0.82 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.424 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a yield of 6.34%. 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%.

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.