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

Clearway Energy, Inc. (NYSE:CWEN) saw a significant growth in short interest in the month of January. As of January 31st, there was short interest totalling 2,300,000 shares, a growth of 8.0% from the January 15th total of 2,130,000 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily trading volume, of 797,100 shares, the days-to-cover ratio is presently 2.9 days.

Clearway Energy Trading Up 1.2 %

NYSE CWEN traded up $0.31 during mid-day trading on Tuesday, reaching $26.44. 885,345 shares of the stock were exchanged, compared to its average volume of 728,253. Clearway Energy has a one year low of $20.63 and a one year high of $30.92. The stock has a 50 day simple moving average of $26.08 and a 200-day simple moving average of $27.58. The stock has a market cap of $5.34 billion, a P/E ratio of 25.42, a P/E/G ratio of 1.70 and a beta of 0.88. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.4312 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.52%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, March 3rd. Clearway Energy’s dividend payout ratio (DPR) is presently 163.46%.

Insider Activity

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

Institutional Investors Weigh In On Clearway Energy

A number of large investors have recently bought and sold shares of the stock. Principal Street Partners LLC grew its holdings in Clearway Energy by 1.7% in the fourth quarter. Principal Street Partners LLC now owns 210,400 shares of the company’s stock worth $5,470,000 after purchasing an additional 3,606 shares during the period. Voloridge Investment Management LLC grew its holdings in Clearway Energy by 251.4% in the fourth quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company’s stock worth $12,235,000 after purchasing an additional 336,668 shares during the period. Squarepoint Ops LLC grew its holdings in Clearway Energy by 88.0% in the fourth quarter. Squarepoint Ops LLC now owns 189,238 shares of the company’s stock worth $4,920,000 after purchasing an additional 88,560 shares during the period. Teza Capital Management LLC acquired a new stake in Clearway Energy in the fourth quarter worth $711,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Clearway Energy in the fourth quarter worth $166,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on CWEN. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, January 29th. CIBC raised their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.57.

About Clearway Energy

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.