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

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 Stock Down 4.5 %

Shares of Clearway Energy stock opened at $26.69 on Wednesday. The company’s fifty day simple moving average is $28.26 and its two-hundred day simple moving average is $27.22. Clearway Energy, Inc. has a 12-month low of $20.63 and a 12-month high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.40 billion, a P/E ratio of 25.66, a PEG ratio of 2.47 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data 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). 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 for the quarter, compared to the consensus estimate of $417.55 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. Research analysts anticipate that Clearway Energy, Inc. will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.424 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 annualized dividend and a yield of 6.35%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is 160.58%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CWEN shares. Roth Mkm reiterated a “buy” rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Morgan Stanley raised 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 research report on Wednesday, July 31st. CIBC upped their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. BNP Paribas began coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price for the company. Finally, Jefferies Financial Group began coverage on Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.13.

Hedge Funds Weigh In On Clearway Energy

A number of hedge funds have recently added to or reduced their stakes in CWEN. Fulton Bank N.A. raised its position in Clearway Energy by 3.8% in the 3rd quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock worth $374,000 after buying an additional 449 shares during the last quarter. Whittier Trust Co. lifted 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. Abich Financial Wealth Management LLC boosted its holdings in Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after purchasing an additional 625 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Clearway Energy by 5.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock worth $302,000 after purchasing an additional 654 shares during the period. Finally, Congress Asset Management Co. raised its stake in Clearway Energy by 0.4% during the 3rd quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock valued at $5,806,000 after buying an additional 699 shares during the last quarter. 38.03% of the stock is currently owned by hedge funds and other 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.

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.