Clearway Energy, Inc. (NYSE:CWEN) Short Interest Update

Clearway Energy, Inc. (NYSE:CWEN) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 2,470,000 shares, an increase of 10.8% from the November 15th total of 2,230,000 shares. Based on an average daily volume of 883,100 shares, the short-interest ratio is currently 2.8 days. Approximately 3.0% of the company’s stock are short sold.

Clearway Energy Stock Down 0.2 %

CWEN stock opened at $27.28 on Friday. The stock has a market cap of $5.51 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86. The firm’s 50-day simple moving average is $27.83 and its 200 day simple moving average is $27.59. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $417.55 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business’s quarterly revenue was up 31.0% on a year-over-year basis. As a group, sell-side analysts predict that Clearway Energy will post 0.82 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.424 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.22%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is currently 163.46%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Clearway Energy

In other news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were 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 owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Clearway Energy

A number of hedge funds have recently modified their holdings of CWEN. Summit Global Investments acquired a new stake in shares of Clearway Energy during the second quarter worth approximately $876,000. Griffin Asset Management Inc. boosted its holdings in shares of Clearway Energy by 7.8% during the 2nd quarter. Griffin Asset Management Inc. now owns 27,728 shares of the company’s stock worth $685,000 after buying an additional 2,010 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Clearway Energy by 107.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 47,931 shares of the company’s stock valued at $1,183,000 after buying an additional 24,864 shares during the last quarter. Whittier Trust Co. raised its holdings in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after acquiring an additional 512 shares during the period. Finally, TrueMark Investments LLC acquired a new position in Clearway Energy during the 2nd quarter worth $641,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

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.