Sanctuary Advisors LLC Buys 58,138 Shares of Clearway Energy, Inc. $CWEN

Sanctuary Advisors LLC increased its stake in Clearway Energy, Inc. (NYSE:CWEN) by 31.3% during the first quarter, Holdings Channel reports. The firm owned 243,587 shares of the company’s stock after acquiring an additional 58,138 shares during the period. Sanctuary Advisors LLC’s holdings in Clearway Energy were worth $9,571,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CWEN. Caitong International Asset Management Co. Ltd grew its stake in Clearway Energy by 280.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after buying an additional 705 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after acquiring an additional 652 shares during the period. Huntington National Bank boosted its position in shares of Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after acquiring an additional 412 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Clearway Energy by 94.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after acquiring an additional 600 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Clearway Energy in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Trading Down 0.9%

NYSE CWEN opened at $33.47 on Friday. The business’s 50-day moving average price is $36.91 and its two-hundred day moving average price is $37.52. Clearway Energy, Inc. has a 12 month low of $27.67 and a 12 month high of $41.74. The firm has a market capitalization of $6.87 billion, a PE ratio of 836.91 and a beta of 0.89. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%.The company had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. On average, analysts expect that Clearway Energy, Inc. will post -0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.4676 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.87 dividend on an annualized basis and a yield of 5.6%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s payout ratio is currently 4,675.00%.

Wall Street Analysts Forecast Growth

CWEN has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce set a $42.00 target price on Clearway Energy in a research note on Friday. Wall Street Zen raised Clearway Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Zacks Research lowered Clearway Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft set a $41.00 target price on Clearway Energy in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.44.

Clearway Energy Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.