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 Price Performance

Shares of NYSE:CWEN opened at $26.95 on Thursday. Clearway Energy, Inc. has a twelve month low of $20.63 and a twelve month high of $30.92. The company’s 50 day moving average is $28.24 and its 200 day moving average is $27.21. 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 $5.45 billion, a PE ratio of 25.91, a price-to-earnings-growth ratio of 2.36 and a beta of 0.87.

Clearway Energy (NYSE:CWEN) last issued its quarterly 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). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. During the same quarter last year, the company posted $0.03 EPS. Clearway Energy’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, sell-side analysts forecast that Clearway Energy, Inc. will post 0.81 EPS 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 issued a dividend of $0.424 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 annualized dividend and a dividend yield of 6.29%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is 162.50%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Clearway Energy by 74.5% in the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $1,191,000 after purchasing an additional 22,059 shares during the last quarter. Sei Investments Co. acquired a new stake in Clearway Energy in the 1st quarter valued at approximately $1,010,000. Qsemble Capital Management LP acquired a new stake in Clearway Energy in the 1st quarter valued at approximately $516,000. Friedenthal Financial acquired a new stake in Clearway Energy in the 2nd quarter valued at approximately $712,000. Finally, Meeder Asset Management Inc. acquired a new stake in Clearway Energy in the 1st quarter valued at approximately $747,000. Institutional investors own 38.03% of the company’s stock.

Analysts Set New Price Targets

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

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.