Raymond James Financial Services Advisors Inc. Buys 1,197 Shares of Clearway Energy, Inc. (NYSE:CWEN)

Posted by Defense World Staff on May 26th, 2023

Raymond James Financial Services Advisors Inc. boosted its stake in Clearway Energy, Inc. (NYSE:CWEN – Get Rating) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,789 shares of the company’s stock after purchasing an additional 1,197 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Clearway Energy were worth $1,778,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Congress Wealth Management LLC DE bought a new position in shares of Clearway Energy in the fourth quarter valued at approximately $335,000. Aveo Capital Partners LLC grew its position in shares of Clearway Energy by 7.5% during the 4th quarter. Aveo Capital Partners LLC now owns 20,475 shares of the company’s stock valued at $653,000 after purchasing an additional 1,425 shares in the last quarter. FCF Advisors LLC bought a new position in shares of Clearway Energy in the fourth quarter worth $702,000. Lindbrook Capital LLC raised its position in shares of Clearway Energy by 1,727.1% in the fourth quarter. Lindbrook Capital LLC now owns 10,469 shares of the company’s stock worth $334,000 after buying an additional 9,896 shares in the last quarter. Finally, Values First Advisors Inc. boosted its stake in Clearway Energy by 12.5% during the fourth quarter. Values First Advisors Inc. now owns 27,857 shares of the company’s stock valued at $888,000 after buying an additional 3,092 shares during the period. Hedge funds and other institutional investors own 77.98% of the company’s stock.

Clearway Energy Trading Down 1.1 %

Shares of CWEN stock opened at $29.29 on Friday. The business has a 50-day moving average price of $30.69 and a two-hundred day moving average price of $32.31. Clearway Energy, Inc. has a 12-month low of $28.75 and a 12-month high of $41.79. The company has a quick ratio of 1.94, a current ratio of 2.02 and a debt-to-equity ratio of 1.63. The firm has a market cap of $5.92 billion, a P/E ratio of 5.56 and a beta of 0.73.

Clearway Energy (NYSE:CWEN – Get Rating) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.98. The company had revenue of $268.00 million for the quarter, compared to analysts’ expectations of $313.21 million. Clearway Energy had a negative return on equity of 9.85% and a net margin of 48.58%. Equities analysts anticipate that Clearway Energy, Inc. will post 1.7 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a $0.382 dividend. This represents a $1.53 dividend on an annualized basis and a dividend yield of 5.22%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, May 31st. Clearway Energy’s payout ratio is presently 28.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CWEN. Oppenheimer decreased their target price on Clearway Energy from $41.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, February 24th. StockNews.com assumed coverage on shares of Clearway Energy in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.75.

Insider Activity

In other Clearway Energy news, Director Infrastructure Investor Global bought 71,980 shares of the firm’s stock in a transaction that occurred on Friday, March 31st. The shares were bought at an average price of $31.15 per share, for a total transaction of $2,242,177.00. Following the transaction, the director now directly owns 172,601 shares in the company, valued at $5,376,521.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by corporate insiders.

Clearway Energy Profile

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Clearway Energy, Inc engages in the ownership of contracted renewable and conventional generation facilities and thermal infrastructure assets. It operates through the following segments: Conventional Generation, Thermal, Renewable, and Corporate. The Renewable segment include solar and wind business.