Avalon Trust Co Invests $47,000 in Clearway Energy, Inc. (NYSE:CWEN)

Avalon Trust Co bought a new stake in Clearway Energy, Inc. (NYSE:CWEN) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,715 shares of the company’s stock, valued at approximately $47,000.

A number of other large investors also recently modified their holdings of CWEN. Bank of Nova Scotia purchased a new stake in Clearway Energy during the 3rd quarter worth $2,100,000. Meritage Portfolio Management raised its holdings in shares of Clearway Energy by 163.6% during the 4th quarter. Meritage Portfolio Management now owns 136,007 shares of the company’s stock valued at $3,731,000 after buying an additional 84,402 shares during the period. Van ECK Associates Corp lifted its position in Clearway Energy by 4,800.6% during the 4th quarter. Van ECK Associates Corp now owns 78,850 shares of the company’s stock worth $2,163,000 after acquiring an additional 77,241 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Clearway Energy by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 149,994 shares of the company’s stock worth $4,114,000 after acquiring an additional 72,910 shares during the period. Finally, Victory Capital Management Inc. grew its position in Clearway Energy by 12.8% in the third quarter. Victory Capital Management Inc. now owns 618,180 shares of the company’s stock valued at $13,081,000 after acquiring an additional 70,351 shares in the last quarter. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CWEN shares. Royal Bank of Canada reduced 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 report on Tuesday, February 27th. Morgan Stanley boosted their price target on 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 cut Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, Oppenheimer lifted their price target on shares of Clearway Energy from $33.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearway Energy presently has an average rating of “Hold” and a consensus target price of $28.33.

Insider Buying and Selling at Clearway Energy

In related news, Director Se Totalenergies acquired 196,964 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was purchased at an average cost 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 $6,749,072.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

Clearway Energy Stock Performance

Shares of NYSE CWEN traded up $0.73 during trading on Friday, reaching $24.43. The stock had a trading volume of 964,520 shares, compared to its average volume of 875,574. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.66 and a current ratio of 1.72. The stock has a market cap of $4.94 billion, a PE ratio of 35.93 and a beta of 0.86. Clearway Energy, Inc. has a one year low of $18.59 and a one year high of $31.72. The firm’s 50 day moving average price is $22.53 and its two-hundred day moving average price is $23.68.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.15. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The company had revenue of $249.00 million for the quarter, compared to analysts’ expectations of $282.45 million. During the same period in the prior year, the company earned $0.10 earnings per share. The firm’s revenue was down 18.4% compared to the same quarter last year. On average, research analysts forecast that Clearway Energy, Inc. will post 0.92 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.403 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.61 dividend on an annualized basis and a yield of 6.60%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio (DPR) is currently 236.76%.

Clearway Energy Company 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.