Clearway Energy, Inc. (NYSE:CWEN) Short Interest Up 10.8% in November

Clearway Energy, Inc. (NYSE:CWEN) was the recipient of a large 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 shares of the stock are short sold. Based on an average daily volume of 883,100 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analyst Weigh In

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

Clearway Energy Trading Down 0.2 %

Shares of CWEN stock opened at $27.28 on Friday. 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 fifty-two week low of $20.63 and a fifty-two week high of $30.92. The firm’s 50 day moving average price is $27.83 and its two-hundred day moving average price is $27.59. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. 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 previous year, the firm posted $0.03 EPS. The business’s revenue was up 31.0% compared to the same quarter last year. On average, analysts anticipate that Clearway Energy will post 0.82 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.424 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 163.46%.

Insider Activity at Clearway Energy

In other news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the sale, the director now owns 8,153 shares in the company, valued at $218,011.22. This trade represents a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Hancock Whitney Corp acquired a new stake in Clearway Energy in the third quarter valued at approximately $1,486,000. Edgestream Partners L.P. purchased a new position in shares of Clearway Energy in the second quarter valued at $3,643,000. 1832 Asset Management L.P. acquired a new stake in Clearway Energy during the 2nd quarter valued at $32,310,000. Entropy Technologies LP purchased a new stake in Clearway Energy during the 3rd quarter worth $1,026,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Clearway Energy by 144.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after buying an additional 254,486 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

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.