Clearway Energy, Inc. (NYSE:CWEN) Short Interest Up 27.7% in February

Clearway Energy, Inc. (NYSE:CWEN) was the recipient of a large growth in short interest in February. As of February 27th, there was short interest totaling 6,435,824 shares, a growth of 27.7% from the February 12th total of 5,039,496 shares. Currently, 3.2% of the company’s shares are short sold. Based on an average daily volume of 1,150,318 shares, the days-to-cover ratio is currently 5.6 days. Based on an average daily volume of 1,150,318 shares, the days-to-cover ratio is currently 5.6 days. Currently, 3.2% of the company’s shares are short sold.

Clearway Energy Stock Up 0.5%

NYSE CWEN traded up $0.21 during trading on Friday, reaching $38.23. 814,777 shares of the company’s stock were exchanged, compared to its average volume of 961,604. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 1.36. Clearway Energy has a fifty-two week low of $25.63 and a fifty-two week high of $41.51. The company’s fifty day simple moving average is $37.06 and its 200-day simple moving average is $33.85. The firm has a market capitalization of $7.85 billion, a PE ratio of 26.91, a P/E/G ratio of 1.66 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Monday, February 23rd. The company reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). The business had revenue of $310.00 million during the quarter, compared to analyst estimates of $334.42 million. Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. During the same quarter in the prior year, the company earned ($0.41) EPS. Sell-side analysts predict that Clearway Energy will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.4602 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.84 annualized dividend and a yield of 4.8%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.45. Clearway Energy’s dividend payout ratio (DPR) is currently 129.58%.

Wall Street Analysts Forecast Growth

CWEN has been the subject of a number of analyst reports. UBS Group set a $45.00 price objective on shares of Clearway Energy in a research note on Tuesday, February 24th. Royal Bank Of Canada boosted their price target on shares of Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, February 24th. Wall Street Zen downgraded shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Saturday, February 28th. Zacks Research lowered shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Canadian Imperial Bank of Commerce upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the stock from $37.00 to $38.00 in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.14.

Institutional Investors Weigh In On Clearway Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank grew its holdings in shares of Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 412 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Clearway Energy by 280.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after acquiring an additional 705 shares in the last quarter. National Bank of Canada FI boosted its position in Clearway Energy by 201.9% during the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares during the last quarter. Mather Group LLC. acquired a new stake in Clearway Energy during the third quarter valued at $29,000. Finally, Geneos Wealth Management Inc. grew its stake in Clearway Energy by 94.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

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.