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

Clearway Energy, Inc. (NYSE:CWEN) was the recipient 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. Currently, 3.0% of the company’s stock are sold short. Based on an average trading volume of 883,100 shares, the days-to-cover ratio is presently 2.8 days.

Insiders Place Their Bets

In related news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now owns 8,153 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Clearway Energy

Hedge funds have recently added to or reduced their stakes in the stock. Whittier Trust Co. raised its holdings in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after buying an additional 512 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Clearway Energy during the third quarter worth about $50,000. Quarry LP boosted its stake in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Clearway Energy during the 3rd quarter valued at approximately $71,000. Finally, Icon Wealth Advisors LLC acquired a new position in Clearway Energy during the 3rd quarter worth approximately $106,000. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Stock Down 1.9 %

CWEN stock opened at $26.76 on Tuesday. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 1.24 and a beta of 0.86. Clearway Energy has a twelve month low of $20.63 and a twelve month high of $30.92. The business has a 50 day moving average price of $27.79 and a two-hundred day moving average price of $27.60. 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 (NYSE:CWEN) last posted 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). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same quarter in the previous year, the business posted $0.03 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. Analysts anticipate that Clearway Energy will post 0.82 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.424 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend was Monday, December 2nd. Clearway Energy’s payout ratio is 163.46%.

Analyst Upgrades and Downgrades

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

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.