Short Interest in Clearway Energy, Inc. (NYSE:CWEN) Decreases By 23.1%

by · The Cerbat Gem

Clearway Energy, Inc. (NYSE:CWENGet Free Report) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 4,091,608 shares, a drop of 23.1% from the November 30th total of 5,322,580 shares. Based on an average daily volume of 854,447 shares, the days-to-cover ratio is currently 4.8 days. Currently, 2.0% of the company’s shares are sold short. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 854,447 shares, the days-to-cover ratio is currently 4.8 days.

Clearway Energy Stock Performance

CWEN opened at $33.28 on Thursday. The firm’s 50-day moving average price is $33.98 and its 200 day moving average price is $31.83. Clearway Energy has a twelve month low of $24.40 and a twelve month high of $36.89. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. The firm has a market capitalization of $6.78 billion, a PE ratio of 14.22, a PEG ratio of 0.38 and a beta of 0.95.

Clearway Energy (NYSE:CWENGet Free Report) last issued 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 company had revenue of $429.00 million for the quarter, compared to the consensus estimate of $427.72 million. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.Clearway Energy’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 EPS. As a group, sell-side analysts expect 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. Shareholders of record on Monday, December 1st were issued a $0.4528 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.81 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, December 1st. Clearway Energy’s dividend payout ratio is currently 77.35%.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CWEN. First Trust Advisors LP boosted its stake in shares of Clearway Energy by 3.7% during the 2nd 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 period. Gotham Asset Management LLC increased its position in Clearway Energy by 79.1% in the first quarter. Gotham Asset Management LLC now owns 814,841 shares of the company’s stock worth $24,665,000 after buying an additional 359,876 shares during the last quarter. RWC Asset Management LLP raised its position in shares of Clearway Energy by 12.2% in the third quarter. RWC Asset Management LLP now owns 745,537 shares of the company’s stock worth $21,061,000 after buying an additional 81,349 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in Clearway Energy by 8.8% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company’s stock valued at $17,656,000 after buying an additional 50,344 shares during the period. Finally, Aberdeen Group plc lifted its position in shares of Clearway Energy by 0.3% in the 3rd quarter. Aberdeen Group plc now owns 580,307 shares of the company’s stock worth $16,463,000 after purchasing an additional 1,807 shares during the period. Institutional investors own 84.53% of the company’s stock.

Analyst Upgrades and Downgrades

CWEN has been the subject of several analyst reports. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Sunday, November 9th. Royal Bank Of Canada began coverage on Clearway Energy in a report on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price objective for the company. Roth Capital lifted their price objective on shares of Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 24th. CIBC raised shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and boosted their price target for the stock from $37.00 to $38.00 in a research note on Tuesday, December 16th. Finally, Cibc Captl Mkts raised shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. One research analyst has 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.com, the company has an average rating of “Moderate Buy” and an average target price of $37.25.

Check Out Our Latest Report on Clearway Energy

Clearway Energy Company Profile

(Get Free Report)

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.

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