Clearway Energy Inc (NYSE:CWEN) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 3,100,000 shares, a drop of 13.4% from the May 30th total of 3,580,000 shares. Based on an average daily volume of 661,000 shares, the days-to-cover ratio is presently 4.7 days. Currently, 4.6% of the company’s stock are short sold.
A number of research analysts have recently commented on the company. ValuEngine upgraded Ultrapar Participacoes from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 4th. Zacks Investment Research cut HANNOVER RUECK/S from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $16.50.
NYSE:CWEN traded down $0.24 during trading hours on Friday, reaching $17.09. 542,800 shares of the company traded hands, compared to its average volume of 906,349. The firm has a 50-day moving average price of $16.34. The firm has a market capitalization of $3.34 billion, a PE ratio of 37.15, a P/E/G ratio of 1.14 and a beta of 1.22. Clearway Energy has a 1 year low of $12.12 and a 1 year high of $20.75. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.26 and a quick ratio of 0.23.
Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.20). The company had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $230.11 million. Clearway Energy had a net margin of 1.15% and a return on equity of 0.53%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. As a group, analysts anticipate that Clearway Energy will post 1.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Friday, May 31st. Clearway Energy’s payout ratio is 173.91%.
A number of large investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC purchased a new stake in Clearway Energy during the second quarter valued at approximately $256,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Clearway Energy during the first quarter valued at approximately $810,000. Kennedy Capital Management Inc. purchased a new stake in Clearway Energy during the first quarter valued at approximately $1,889,000. NumerixS Investment Technologies Inc raised its position in Clearway Energy by 366.7% during the first quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the company’s stock valued at $146,000 after purchasing an additional 7,700 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Clearway Energy by 26.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 85,575 shares of the company’s stock valued at $1,293,000 after purchasing an additional 17,875 shares during the period. Institutional investors and hedge funds own 31.55% of the company’s stock.
About Clearway Energy
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.
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