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

Clearway Energy, Inc. (NYSE:CWEN) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totaling 4,893,293 shares, an increase of 19.6% from the December 15th total of 4,091,608 shares. Based on an average daily trading volume, of 985,667 shares, the days-to-cover ratio is currently 5.0 days. Approximately 2.4% of the company’s stock are sold short. Approximately 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 985,667 shares, the days-to-cover ratio is currently 5.0 days.

Clearway Energy Stock Down 1.5%

CWEN traded down $0.55 on Tuesday, hitting $35.53. 1,345,523 shares of the company were exchanged, compared to its average volume of 1,444,260. The stock’s fifty day moving average is $34.15 and its 200-day moving average is $31.98. Clearway Energy has a 12 month low of $24.50 and a 12 month high of $36.89. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.44 and a current ratio of 1.54. The company has a market cap of $7.24 billion, a PE ratio of 15.18, a PEG ratio of 1.36 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.68. The firm had revenue of $429.00 million for the quarter, compared to analyst estimates of $427.72 million. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The business’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 EPS. Equities research analysts predict that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.4528 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Monday, December 1st. Clearway Energy’s dividend payout ratio is 77.35%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Synergy Asset Management LLC acquired a new position in shares of Clearway Energy in the third quarter valued at approximately $6,473,000. Northside Capital Management LLC bought a new stake in shares of Clearway Energy in the second quarter valued at about $8,847,000. Nordea Investment Management AB grew its stake in shares of Clearway Energy by 325.3% in the second quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock valued at $7,747,000 after acquiring an additional 187,861 shares in the last quarter. AXQ Capital LP increased its position in Clearway Energy by 130.1% during the second quarter. AXQ Capital LP now owns 19,919 shares of the company’s stock worth $637,000 after acquiring an additional 11,264 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Clearway Energy in the 3rd quarter worth about $1,244,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CWEN shares. Cibc Captl Mkts upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th. CIBC raised Clearway Energy from a “neutral” rating to a “sector outperform” rating and lifted their price target for the company from $37.00 to $38.00 in a research note on Tuesday, December 16th. Roth Capital upped their price objective on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Finally, Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.