Clearway Energy, Inc. (NYSE:CWEN) Sees Large Increase in Short Interest

Clearway Energy, Inc. (NYSE:CWEN) was the target of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 2,470,000 shares, a growth of 10.8% from the November 15th total of 2,230,000 shares. Based on an average trading volume of 883,100 shares, the days-to-cover ratio is presently 2.8 days. Approximately 3.0% of the company’s shares are short sold.

Clearway Energy Stock Performance

Shares of Clearway Energy stock opened at $26.76 on Tuesday. The company has a market cap of $5.41 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.24 and a beta of 0.86. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. Clearway Energy has a 52 week low of $20.63 and a 52 week high of $30.92. The business has a 50 day moving average price of $27.79 and a 200-day moving average price of $27.60.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The company had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.03 earnings per share. Equities analysts anticipate that Clearway Energy will post 0.82 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.424 per share. The ex-dividend date was Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 6.34%. Clearway Energy’s payout ratio is 162.50%.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of Clearway Energy 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 sale, the director now directly owns 8,153 shares in the company, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Clearway Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. grew its holdings in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Clearway Energy in the 3rd quarter valued at $50,000. Quarry LP grew its stake in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after purchasing an additional 843 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Clearway Energy during the 3rd quarter valued at $71,000. Finally, Icon Wealth Advisors LLC bought a new stake in shares of Clearway Energy during the 3rd quarter worth $106,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CWEN. Jefferies Financial Group started coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. CIBC upped their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. BNP Paribas began coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price for the company. Finally, StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and an average price target of $33.13.

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.