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

Clearway Energy, Inc. (NYSE:CWEN) was the recipient of a large growth in short interest in 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. 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 short sold. Approximately 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 985,667 shares, the days-to-cover ratio is currently 5.0 days.

Clearway Energy Stock Performance

CWEN opened at $35.53 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. Clearway Energy has a 12-month low of $24.50 and a 12-month high of $36.89. The business has a 50 day moving average of $34.15 and a 200-day moving average of $32.00. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.36 and a beta of 0.95.

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

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $0.4528 per share. This represents a $1.81 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Monday, December 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s payout ratio is presently 77.35%.

Analyst Ratings Changes

Several analysts recently issued reports on CWEN shares. CIBC upgraded Clearway Energy from a “neutral” rating to a “sector outperform” rating and upped their target price for the stock from $37.00 to $38.00 in a report on Tuesday, December 16th. Evercore ISI began coverage on Clearway Energy in a research note on Monday, October 6th. They set an “in-line” rating and a $34.00 price objective on the stock. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday. Zacks Research raised shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Finally, Cibc Captl Mkts upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. First Trust Advisors LP lifted its position in Clearway Energy by 3.7% during the second quarter. First Trust Advisors LP now owns 2,171,301 shares of the company’s stock worth $69,482,000 after acquiring an additional 77,595 shares during the last quarter. RWC Asset Management LLP increased its stake in shares of Clearway Energy by 12.2% during the third quarter. RWC Asset Management LLP now owns 745,537 shares of the company’s stock worth $21,061,000 after purchasing an additional 81,349 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its holdings in Clearway Energy by 8.8% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company’s stock worth $17,656,000 after purchasing an additional 50,344 shares during the last quarter. Aberdeen Group plc boosted its stake in Clearway Energy by 0.3% in the 3rd quarter. Aberdeen Group plc now owns 580,307 shares of the company’s stock valued at $16,463,000 after purchasing an additional 1,807 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Clearway Energy by 1.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock valued at $12,290,000 after purchasing an additional 5,142 shares during the period. 84.53% of the stock is owned by institutional investors.

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.