Sanctuary Advisors LLC acquired a new stake in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 124,588 shares of the company's stock, valued at approximately $3,532,000. Sanctuary Advisors LLC owned about 0.06% of Clearway Energy as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also modified their holdings of the business. 1832 Asset Management L.P. purchased a new stake in Clearway Energy in the 2nd quarter worth $32,310,000. Point72 Asset Management L.P. boosted its position in Clearway Energy by 60.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company's stock valued at $25,106,000 after acquiring an additional 384,837 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Clearway Energy by 144.8% during the second quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company's stock valued at $10,623,000 after acquiring an additional 254,486 shares during the last quarter. Yaupon Capital Management LP raised its stake in Clearway Energy by 209.3% in the third 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 last quarter. Finally, HITE Hedge Asset Management LLC lifted its stake in shares of Clearway Energy by 130.7% during the second quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company's stock worth $6,722,000 after buying an additional 154,239 shares during the period. Hedge funds and other institutional investors own 84.53% of the company's stock.
CWEN has been the subject of several recent analyst reports. StockNews.com lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a report on Saturday, November 30th. Jefferies Financial Group started coverage on shares of Clearway Energy in a research note on Friday, September 20th. They set a "buy" rating and a $35.00 price target on the stock. CIBC upped their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an "outperformer" rating in a report on Tuesday, October 22nd. Finally, BNP Paribas initiated coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $33.13.
Read Our Latest Report on Clearway Energy
In other news, Director Brian R. Ford sold 2,000 shares of the business'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 completion of the transaction, the director now directly owns 8,153 shares of the company's stock, valued at $218,011.22. The trade was a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.52% of the stock is currently owned by insiders.
CWEN stock opened at $26.76 on Tuesday. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.24 and a beta of 0.86. The company has a fifty day moving average price of $27.79 and a 200 day moving average price of $27.60. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy, Inc. has a 12 month low of $20.63 and a 12 month high of $30.92.
Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). The business had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy's quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Sell-side analysts expect that Clearway Energy, Inc. will post 0.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.424 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 6.34%. Clearway Energy's dividend payout ratio (DPR) is currently 162.50%.
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.
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