Brian R. Ford Sells 2,000 Shares of Clearway Energy, Inc. (NYSE:CWEN) Stock

Clearway Energy, Inc. (NYSE:CWEN) Director Brian R. Ford sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were 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 directly owns 8,153 shares in the company, 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 available at the SEC website.

Clearway Energy Price Performance

CWEN stock opened at $27.28 on Friday. The stock has a market capitalization of $5.51 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a 52-week low of $20.63 and a 52-week high of $30.92. The stock’s fifty day simple moving average is $27.83 and its 200-day simple moving average is $27.59.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (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 business had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. During the same period in the previous year, the business posted $0.03 earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. Equities research analysts expect that Clearway Energy, Inc. will post 0.82 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 6.22%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy’s payout ratio is presently 163.46%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Clearway Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. boosted its holdings in shares of Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Clearway Energy in the 3rd quarter worth $50,000. Quarry LP boosted its holdings 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 acquiring an additional 843 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Clearway Energy during the third quarter valued at about $71,000. Finally, Icon Wealth Advisors LLC acquired a new stake in Clearway Energy during the third quarter worth about $106,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

About Clearway Energy

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.