Sanctuary Advisors LLC Purchases 58,138 Shares of Clearway Energy, Inc. $CWEN

Key Points

• Sanctuary Advisors LLC increased its Clearway Energy stake by 31.3% in the first quarter, buying 58,138 additional shares to bring its total holdings to 243,587 shares worth about $9.57 million.
• Institutional ownership in Clearway Energy (NYSE:CWEN) remains high, with hedge funds and other institutions owning 84.53% of the stock, and several firms recently added to their positions.
• Analysts remain generally positive on the stock, with a consensus rating of Moderate Buy and an average price target of $43.44, while the shares recently traded at $33.47 after a 0.9% decline.

Sanctuary Advisors LLC lifted its position in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 31.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 243,587 shares of the company's stock after purchasing an additional 58,138 shares during the period. Sanctuary Advisors LLC owned 0.12% of Clearway Energy worth $9,571,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CWEN. Clearbridge Investments LLC increased its position in Clearway Energy by 26.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company's stock worth $154,890,000 after buying an additional 981,488 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Clearway Energy by 20.1% in the fourth quarter. Pacer Advisors Inc. now owns 837,006 shares of the company's stock valued at $27,839,000 after buying an additional 140,006 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Clearway Energy in the fourth quarter valued at approximately $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Clearway Energy by 1.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company's stock worth $12,290,000 after acquiring an additional 5,142 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Clearway Energy by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 327,638 shares of the company's stock worth $9,256,000 after acquiring an additional 52,338 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CWEN has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a research note on Thursday, April 9th. Morgan Stanley upped their price objective on shares of Clearway Energy from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Wednesday, May 27th. UBS Group upped their price target on shares of Clearway Energy from $44.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Clearway Energy from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Truist Financial began coverage on Clearway Energy in a research report on Monday. They issued a "buy" rating and a $43.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.44.

Clearway Energy Trading Down 0.9%

Shares of Clearway Energy stock opened at $33.47 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. The firm has a 50-day moving average of $36.91 and a 200-day moving average of $37.52. Clearway Energy, Inc. has a 52-week low of $27.67 and a 52-week high of $41.74. The stock has a market cap of $6.87 billion, a PE ratio of 836.91 and a beta of 0.89.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.90). The business had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. As a group, sell-side analysts forecast that Clearway Energy, Inc. will post -0.83 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.4676 dividend. The ex-dividend date was Monday, June 1st. This is a positive change from Clearway Energy's previous quarterly dividend of $0.46. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.6%. Clearway Energy's dividend payout ratio (DPR) is presently 4,675.00%.

Clearway Energy Company Profile

Clearway Energy Group NYSE: CWEN is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company's portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway's generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.

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