Traders Buy High Volume of Clearway Energy Call Options (NYSE:CWEN)

Clearway Energy Inc (NYSE:CWEN) saw some unusual options trading activity on Tuesday. Stock investors purchased 1,796 call options on the stock. This is an increase of approximately 3,107% compared to the typical daily volume of 56 call options.

NYSE CWEN opened at $29.93 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.18 and a debt-to-equity ratio of 2.86. Clearway Energy has a 12-month low of $16.12 and a 12-month high of $30.62. The company has a market capitalization of $6.01 billion, a PE ratio of 66.51, a price-to-earnings-growth ratio of 2.05 and a beta of 0.76. The firm’s 50 day moving average is $25.33 and its 200-day moving average is $22.83.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.30). The business had revenue of $329.00 million during the quarter, compared to analyst estimates of $346.35 million. Clearway Energy had a net margin of 4.56% and a return on equity of 2.42%. Clearway Energy’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) earnings per share. As a group, sell-side analysts expect that Clearway Energy will post 1.08 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a yield of 4.18%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, August 31st. Clearway Energy’s payout ratio is presently -1,250.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of CWEN. Electron Capital Partners LLC acquired a new stake in Clearway Energy during the second quarter worth approximately $19,225,000. Advisors Capital Management LLC acquired a new stake in Clearway Energy during the second quarter worth approximately $10,810,000. Tortoise Capital Advisors L.L.C. acquired a new stake in Clearway Energy during the first quarter worth approximately $6,752,000. AJO LP acquired a new stake in Clearway Energy during the second quarter worth approximately $3,227,000. Finally, First Trust Advisors LP lifted its position in Clearway Energy by 90.0% during the second quarter. First Trust Advisors LP now owns 236,918 shares of the company’s stock worth $5,463,000 after acquiring an additional 112,196 shares during the last quarter. Institutional investors own 36.59% of the company’s stock.

Several research analysts have recently issued reports on CWEN shares. TheStreet raised shares of Clearway Energy from a “d+” rating to a “c” rating in a research note on Monday, June 15th. Oppenheimer reaffirmed a “hold” rating on shares of Clearway Energy in a research note on Thursday, August 6th. Seaport Global Securities assumed coverage on shares of Clearway Energy in a research note on Tuesday, September 8th. They set a “buy” rating and a $26.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Clearway Energy from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Finally, Goldman Sachs Group lowered shares of Clearway Energy from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Tuesday, June 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $25.50.

Clearway Energy Company Profile

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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