Atria Wealth Solutions Inc. Purchases Shares of 9,603 Clearway Energy, Inc. (NYSE:CWEN)

Atria Wealth Solutions Inc. acquired a new position in Clearway Energy, Inc. (NYSE:CWEN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 9,603 shares of the company’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its position in Clearway Energy by 14.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,096 shares of the company’s stock worth $256,000 after buying an additional 1,481 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Clearway Energy by 11.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 63,756 shares of the company’s stock valued at $1,349,000 after purchasing an additional 6,526 shares in the last quarter. Abundance Wealth Counselors boosted its stake in shares of Clearway Energy by 20.4% in the 3rd quarter. Abundance Wealth Counselors now owns 17,879 shares of the company’s stock valued at $378,000 after purchasing an additional 3,026 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Clearway Energy by 115.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 19,990 shares of the company’s stock valued at $423,000 after purchasing an additional 10,700 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in Clearway Energy by 12.8% in the 3rd quarter. Victory Capital Management Inc. now owns 618,180 shares of the company’s stock worth $13,081,000 after purchasing an additional 70,351 shares during the period. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CWEN shares. Morgan Stanley raised their price objective on Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Oppenheimer increased their price objective on Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. StockNews.com downgraded shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada decreased their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.33.

Clearway Energy Stock Performance

NYSE:CWEN opened at $24.91 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.72 and a debt-to-equity ratio of 1.50. The firm’s fifty day simple moving average is $22.69 and its 200 day simple moving average is $23.75. The stock has a market cap of $5.03 billion, a P/E ratio of 36.63 and a beta of 0.86. Clearway Energy, Inc. has a twelve month low of $18.59 and a twelve month high of $31.72.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share for the quarter, beating 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 firm had revenue of $249.00 million for the quarter, compared to analyst estimates of $282.45 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. As a group, research analysts predict that Clearway Energy, Inc. will post 0.92 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.403 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.61 annualized dividend and a dividend yield of 6.47%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio is currently 236.76%.

Insider Activity

In other news, Director Se Totalenergies purchased 196,964 shares of Clearway Energy stock in a transaction that occurred on Thursday, March 28th. The shares were bought at an average cost of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the purchase, the director now directly owns 295,235 shares in the company, valued at $6,749,072.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.55% of the stock is currently owned by company insiders.

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.