Rep. Maria Elvira Salazar Sells Clearway Energy, Inc. (NYSE:CWEN) Stock

Representative Maria Elvira Salazar (R-Florida) recently sold shares of Clearway Energy, Inc. (NYSE:CWEN). In a filing disclosed on November 11th, the Representative disclosed that they had sold between $15,001 and $50,000 in Clearway Energy stock on October 25th.

Representative Maria Elvira Salazar also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Antero Resources (NYSE:AR) on 10/31/2024.
• Purchased $15,001 – $50,000 in shares of Occidental Petroleum (NYSE:OXY) on 10/25/2024.

Clearway Energy Trading Down 4.5 %

Shares of CWEN stock opened at $26.69 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 2.47 and a beta of 0.87. Clearway Energy, Inc. has a 1 year low of $20.63 and a 1 year high of $30.92. The firm has a fifty day moving average price of $28.26 and a 200-day moving average price of $27.22.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The firm had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. As a group, equities analysts predict that Clearway Energy, Inc. will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This represents a $1.70 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is currently 160.58%.

Analysts Set New Price Targets

CWEN has been the subject of a number of recent analyst reports. CIBC upped their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on shares of Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective for the company. Roth Mkm reiterated a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Finally, Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Hedge Funds Weigh In On Clearway Energy

Several institutional investors have recently bought and sold shares of CWEN. Ashton Thomas Securities LLC purchased a new stake in shares of Clearway Energy during the 3rd quarter valued at about $50,000. Abich Financial Wealth Management LLC increased its stake in Clearway Energy by 49.8% during the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after acquiring an additional 625 shares during the last quarter. Whittier Trust Co. raised its position in Clearway Energy by 33.8% during the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after purchasing an additional 512 shares during the period. Quarry LP lifted its stake in shares of Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after purchasing an additional 843 shares during the last quarter. Finally, nVerses Capital LLC boosted its holdings in shares of Clearway Energy by 34.0% in the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock worth $206,000 after purchasing an additional 1,700 shares during the period. Institutional investors own 38.03% of the company’s stock.

About Representative Salazar

Maria Elvira Salazar (Republican Party) is a member of the U.S. House, representing Florida’s 27th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Salazar (Republican Party) is running for re-election to the U.S. House to represent Florida’s 27th Congressional District. She declared candidacy for the Republican primary scheduled on August 20, 2024. Maria Elvira Salazar was born in Miami, Florida, and lives in Coral Gables, Florida. Salazar earned an undergraduate degree from the University of Miami in 1983 and a graduate degree from Harvard University in 1995. Her career experience includes working as a television journalist, reporter, and news anchor.

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.