Atria Wealth Solutions Inc. Purchases New Shares in Clearway Energy, Inc. (NYSE:CWEN)

Atria Wealth Solutions Inc. acquired a new position in shares of Clearway Energy, Inc. (NYSE:CWEN) in the 4th quarter, Holdings Channel.com reports. The fund acquired 9,603 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds have also bought and sold shares of CWEN. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Clearway Energy by 94.6% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 149,994 shares of the company’s stock worth $4,114,000 after purchasing an additional 72,910 shares during the period. Xponance Inc. purchased a new position in shares of Clearway Energy during the fourth quarter valued at approximately $214,000. Wright Investors Service Inc. bought a new position in shares of Clearway Energy during the fourth quarter valued at approximately $858,000. Everence Capital Management Inc. purchased a new stake in shares of Clearway Energy in the fourth quarter worth approximately $673,000. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Clearway Energy during the 4th quarter worth approximately $396,000. Institutional investors own 38.03% of the company’s stock.

Insider Activity

In other news, Director Se Totalenergies acquired 196,964 shares of Clearway Energy stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average price of $22.86 per share, for a total transaction of $4,502,597.04. Following the purchase, the director now directly owns 295,235 shares in the company, valued at approximately $6,749,072.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $24.91 on Thursday. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 36.63 and a beta of 0.86. Clearway Energy, Inc. has a 52-week low of $18.59 and a 52-week high of $31.72. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 1.50. The company’s 50 day moving average is $22.69 and its 200 day moving average is $23.75.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.15. The business had revenue of $249.00 million for the quarter, compared to the consensus estimate of $282.45 million. Clearway Energy had a return on equity of 1.80% and a net margin of 6.01%. The business’s revenue was down 18.4% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. On average, sell-side analysts anticipate that Clearway Energy, Inc. will post 0.92 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.403 per share. This represents a $1.61 annualized dividend and a dividend yield of 6.47%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 29th. Clearway Energy’s dividend payout ratio is presently 236.76%.

Wall Street Analyst Weigh In

CWEN has been the topic of several research analyst reports. Royal Bank of Canada cut their price objective on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 27th. Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. Morgan Stanley raised their target price on shares of Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Finally, Oppenheimer raised their price objective on Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.33.

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.