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

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its holdings in Clearway Energy by 280.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after purchasing an additional 705 shares in the last quarter. National Bank of Canada FI grew its position in shares of Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after buying an additional 652 shares during the period. Mather Group LLC. acquired a new stake in shares of Clearway Energy during the 3rd quarter worth approximately $29,000. Hilltop National Bank bought a new stake in shares of Clearway Energy in the 2nd quarter valued at $35,000. Finally, Headlands Technologies LLC acquired a new position in shares of Clearway Energy during the 2nd quarter valued at $43,000. 84.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CWEN has been the subject of a number of research analyst reports. UBS Group restated a “buy” rating and issued a $39.00 target price on shares of Clearway Energy in a research report on Wednesday, December 10th. Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday. Cibc Captl Mkts raised Clearway Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Finally, CIBC upgraded Clearway Energy from a “neutral” rating to a “sector outperform” rating and boosted their target price for the stock from $37.00 to $38.00 in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Clearway Energy has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Clearway Energy Stock Up 2.1%

Shares of NYSE:CWEN traded up $0.73 during trading on Monday, hitting $36.11. 3,281,230 shares of the company’s stock traded hands, compared to its average volume of 1,043,599. The company has a 50-day moving average price of $34.15 and a 200-day moving average price of $31.98. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. Clearway Energy has a 52 week low of $24.50 and a 52 week high of $36.89. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.36 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $0.32 by $1.68. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The company had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $427.72 million. During the same quarter last year, the company earned $0.31 EPS. Clearway Energy’s revenue for the quarter was down 11.7% compared to the same quarter last year. As a group, research analysts forecast that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.4528 dividend. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, December 1st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio is 77.35%.

About Clearway Energy

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.