Barclays now sees two Fed cuts this year, says jumbo Fed cuts ’very unlikely’
In a recent transaction, Brian R. Ford (NYSE:F), a director at Clearway Energy (NYSE:CWENa), Inc. (NYSE:CWEN), a $5.4 billion renewable energy company known for its attractive 6.2% dividend yield and five consecutive years of dividend increases, sold shares of the company's stock valued at approximately $53,485. According to InvestingPro analysis, CWEN's current trading price of $27.28 appears fairly valued. According to the SEC filing, the sales occurred on December 11, 2024, and involved 1,000 shares of Class A Common Stock at a price of $25.892 each, and 1,000 shares of Class C Common Stock at a price of $27.5938 each. Following these transactions, Ford holds 8,153 shares of Class A Common Stock and 76,883 shares of Class C Common Stock directly. Additionally, 1,000 shares of Class C Common Stock are held indirectly by Ford's spouse. Discover more insights about CWEN with InvestingPro, which offers 10 additional exclusive ProTips and a comprehensive research report.
In other recent news, Clearway (NYSE:CWEN) Energy Inc. registered a strong Q3 2024 performance, with a Cash Available for Distribution (CAFD) of $385 million year-to-date, indicating a trajectory that could meet or exceed its annual guidance. The company also unveiled ambitious growth plans, including a commitment to increase shareholder dividends. BofA Securities initiated coverage on Clearway Energy with a Buy rating, highlighting the company's potential for sustainable growth from de-risked acquisitions. Jefferies echoed this sentiment, raising its price target for Clearway Energy shares, citing a strong long-term outlook and resilient dividend per share.
In the same vein, TPI Composites Inc (NASDAQ:TPIC). announced the addition of Jennifer Lowry to its board of directors, a move expected to support the company's long-term strategy. Lowry, who also serves as an independent director for Clearway Energy, brings a wealth of financial expertise from the electric power industry.
Clearway Energy's 2025 CAFD guidance stands at a midpoint of $420 million, with a dividend target of $1.76 per share. By 2027, the company aims for a CAFD per share between $2.40 and $2.60, suggesting a compounded annual growth rate of 7.5% to 12% from 2025. These recent developments underscore Clearway Energy's strong positioning for continued performance and growth in the market.
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