Rep. Maria Elvira Salazar Sells Off Shares of Clearway Energy, Inc. (NYSE:CWEN)

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 opened at $26.69 on Wednesday. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 2.46 and a beta of 0.87. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $28.26 and its 200 day moving average price is $27.22. Clearway Energy, Inc. has a 12-month low of $20.63 and a 12-month high of $30.92.

Clearway Energy (NYSE:CWEN) last posted its earnings results 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). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. During the same quarter last year, the firm posted $0.03 EPS. The business’s revenue was up 31.0% on a year-over-year basis. As a group, research analysts predict that Clearway Energy, Inc. will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have issued reports on CWEN shares. BNP Paribas started coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. Jefferies Financial Group initiated coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 price target on the stock. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.13.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently made changes to their positions in the business. Abich Financial Wealth Management LLC lifted its stake in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after acquiring an additional 625 shares during the period. Whittier Trust Co. grew its holdings in shares of Clearway Energy by 33.8% in 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 in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Clearway Energy in the 3rd quarter valued at approximately $50,000. Quarry LP boosted its stake in shares of Clearway Energy by 53.4% during the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares during the period. Finally, nVerses Capital LLC boosted its holdings in Clearway Energy by 34.0% during the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock valued at $206,000 after acquiring an additional 1,700 shares during the period. 38.03% of the stock is currently owned by institutional investors.

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.