Clearway Energy Sees Unusually Large Options Volume (NYSE:CWEN)

Clearway Energy, Inc. (NYSE:CWENGet Rating) saw some unusual options trading on Friday. Stock traders acquired 2,762 call options on the stock. This represents an increase of 1,122% compared to the average volume of 226 call options.

Institutional Trading of Clearway Energy

Several institutional investors have recently added to or reduced their stakes in CWEN. Van ECK Associates Corp boosted its position in Clearway Energy by 67.9% in the 1st quarter. Van ECK Associates Corp now owns 851 shares of the company’s stock valued at $31,000 after buying an additional 344 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Clearway Energy during the 1st quarter worth $50,000. AGF Investments LLC lifted its position in shares of Clearway Energy by 333.7% during the 1st quarter. AGF Investments LLC now owns 1,878 shares of the company’s stock worth $69,000 after purchasing an additional 1,445 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Clearway Energy by 47.3% during the 1st quarter. Fifth Third Bancorp now owns 2,005 shares of the company’s stock worth $73,000 after purchasing an additional 644 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Clearway Energy during the 1st quarter worth $102,000. Institutional investors and hedge funds own 57.10% of the company’s stock.

Wall Street Analyst Weigh In

CWEN has been the topic of several research analyst reports. TheStreet upgraded Clearway Energy from a “c+” rating to a “b+” rating in a research report on Tuesday, August 2nd. CIBC began coverage on Clearway Energy in a report on Thursday, June 9th. They issued a “neutral” rating and a $36.00 price target for the company. StockNews.com lowered Clearway Energy from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley lowered their target price on Clearway Energy from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Thursday, July 21st. Finally, Roth Capital reaffirmed a “buy” rating on shares of Clearway Energy in a research report on Friday, May 27th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Clearway Energy has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Clearway Energy Price Performance

CWEN traded down $0.93 during trading on Friday, reaching $34.81. The company’s stock had a trading volume of 6,810 shares, compared to its average volume of 575,473. The company has a quick ratio of 2.13, a current ratio of 2.18 and a debt-to-equity ratio of 1.58. The firm has a fifty day simple moving average of $37.59 and a two-hundred day simple moving average of $35.49. Clearway Energy has a 1 year low of $29.61 and a 1 year high of $41.79. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 2.36 and a beta of 0.64.

Clearway Energy (NYSE:CWENGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($3.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($4.24). Clearway Energy had a negative return on equity of 13.81% and a net margin of 44.04%. The firm had revenue of $368.00 million for the quarter, compared to analyst estimates of $388.91 million. As a group, analysts anticipate that Clearway Energy will post 0.87 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Wednesday, August 31st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.35. Clearway Energy’s dividend payout ratio (DPR) is 30.51%.

About Clearway Energy

(Get Rating)

Clearway Energy, Inc operates in the renewable energy business in the United States. It has approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities. The company was formerly known as NRG Yield, Inc and changed its name to Clearway Energy, Inc in August 2018.

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