Kestra Private Wealth Services LLC Buys Shares of 8,046 Clearway Energy, Inc. (NYSE:CWEN)

Kestra Private Wealth Services LLC bought a new stake in Clearway Energy, Inc. (NYSE:CWEN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,046 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Meritage Portfolio Management increased its stake in Clearway Energy by 163.6% during the fourth quarter. Meritage Portfolio Management now owns 136,007 shares of the company’s stock worth $3,731,000 after purchasing an additional 84,402 shares during the period. Aigen Investment Management LP increased its stake in Clearway Energy by 289.0% during the third quarter. Aigen Investment Management LP now owns 44,041 shares of the company’s stock worth $932,000 after purchasing an additional 32,720 shares during the period. Prudent Man Advisors LLC purchased a new stake in shares of Clearway Energy during the third quarter worth approximately $687,000. Pacer Advisors Inc. increased its stake in shares of Clearway Energy by 132.7% during the fourth quarter. Pacer Advisors Inc. now owns 10,589 shares of the company’s stock worth $290,000 after buying an additional 6,039 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Clearway Energy during the third quarter worth approximately $470,000. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Se Totalenergies purchased 196,964 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the acquisition, the director now directly owns 295,235 shares in the company, valued at $6,749,072.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Clearway Energy Price Performance

CWEN stock opened at $26.48 on Friday. The company has a market capitalization of $5.35 billion, a P/E ratio of 38.94 and a beta of 0.86. Clearway Energy, Inc. has a twelve month low of $18.59 and a twelve month high of $31.72. The business has a 50 day simple moving average of $22.79 and a 200-day simple moving average of $23.77. The company has a current ratio of 1.72, a quick ratio of 1.66 and a debt-to-equity ratio of 1.50.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.15. The business had revenue of $249.00 million during 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 company’s revenue was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, equities analysts anticipate that Clearway Energy, Inc. will post 0.92 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.403 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.61 annualized dividend and a dividend yield of 6.09%. 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

A number of research firms recently weighed in on CWEN. Morgan Stanley upped 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 note on Friday, March 1st. Marathon Capitl restated an “equal weight” rating on shares of Clearway Energy in a research note on Tuesday, March 26th. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Royal Bank of Canada cut their target price on shares of Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 27th. Finally, Oppenheimer increased their price target on shares of Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.33.

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.