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

San Luis Wealth Advisors LLC purchased a new stake in Clearway Energy, Inc. (NYSE:CWEN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 29,558 shares of the company’s stock, valued at approximately $769,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CWEN. 1832 Asset Management L.P. bought a new stake in shares of Clearway Energy in the 2nd quarter valued at about $32,310,000. Point72 Asset Management L.P. increased its stake in Clearway Energy by 60.9% in the second quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after purchasing an additional 384,837 shares in the last quarter. abrdn plc increased its stake 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 in the last quarter. The Manufacturers Life Insurance Company boosted its position 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 worth $10,623,000 after purchasing an additional 254,486 shares in the last quarter. Finally, Yaupon Capital Management LP grew its holdings in shares of Clearway Energy by 209.3% in the 3rd quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock valued at $9,991,000 after buying an additional 220,360 shares during the period. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $25.07 on Wednesday. The firm has a market cap of $5.07 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 1.24 and a beta of 0.88. The business’s 50 day moving average is $27.21 and its 200-day moving average is $27.50. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Clearway Energy, Inc. has a 1-year low of $20.63 and a 1-year high of $30.92.

Clearway Energy (NYSE:CWEN) last posted 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). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same period in the prior year, the business posted $0.03 EPS. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. Equities research analysts predict that Clearway Energy, Inc. will post 0.82 earnings per share for the current 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 given a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date was Monday, December 2nd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is presently 162.50%.

Insider Transactions at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the firm’s 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Analysts Set New Price Targets

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

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.