Fulton Bank N.A. Increases Stock Position in Clearway Energy, Inc. (NYSE:CWEN)

Fulton Bank N.A. lifted its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,007 shares of the company’s stock after purchasing an additional 1,801 shares during the period. Fulton Bank N.A.’s holdings in Clearway Energy were worth $364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in shares of Clearway Energy in the third quarter worth $3,532,000. Hancock Whitney Corp acquired a new position in Clearway Energy in the 3rd quarter valued at about $1,486,000. National Bank of Canada FI raised its stake in Clearway Energy by 1,778.8% in the 3rd quarter. National Bank of Canada FI now owns 30,907 shares of the company’s stock valued at $948,000 after purchasing an additional 29,262 shares during the last quarter. Edgestream Partners L.P. purchased a new position in Clearway Energy in the 2nd quarter valued at about $3,643,000. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Clearway Energy during the second quarter worth about $32,310,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CWEN shares. Jefferies Financial Group started coverage on shares of Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 target price on the stock. BNP Paribas initiated coverage on Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective on the stock. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. Finally, CIBC raised their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Stock Performance

Clearway Energy stock opened at $24.95 on Friday. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 1.24 and a beta of 0.88. Clearway Energy, Inc. has a 12 month low of $20.63 and a 12 month high of $30.92. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The stock’s 50-day moving average is $27.41 and its 200-day moving average is $27.49.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 EPS 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 business had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. During the same quarter in the previous year, the business posted $0.03 EPS. The company’s quarterly revenue was up 31.0% on a year-over-year basis. Equities analysts anticipate that Clearway Energy, Inc. will post 0.82 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a yield of 6.80%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, December 2nd. Clearway Energy’s dividend payout ratio is 162.50%.

Insider Activity at Clearway Energy

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares in the company, valued at $218,011.22. This represents a 19.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by insiders.

Clearway Energy 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.