Stock Traders Purchase High Volume of Call Options on Clearway Energy (CWEN)

Clearway Energy Inc (NYSE:CWEN) was the recipient of unusually large options trading on Thursday. Stock traders purchased 10,269 call options on the company. This is an increase of 3,181% compared to the average volume of 313 call options.

In other news, major shareholder Infrastructure Investor Global bought 132,612 shares of the stock in a transaction that occurred on Thursday, December 27th. The shares were purchased at an average cost of $16.59 per share, with a total value of $2,200,033.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CWEN. Whittier Trust Co. acquired a new stake in shares of Clearway Energy during the 3rd quarter valued at about $114,000. First Trust Advisors LP acquired a new stake in shares of Clearway Energy during the 3rd quarter valued at about $3,558,000. Alps Advisors Inc. acquired a new stake in shares of Clearway Energy during the 3rd quarter valued at about $564,000. W.E. Donoghue & Co. LLC acquired a new stake in shares of Clearway Energy during the 3rd quarter valued at about $953,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Clearway Energy during the 3rd quarter valued at about $305,000. Hedge funds and other institutional investors own 30.89% of the company’s stock.

Shares of NYSE CWEN opened at $14.44 on Friday. Clearway Energy has a one year low of $12.12 and a one year high of $20.75. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 0.37 and a beta of 1.23. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.56 and a quick ratio of 0.52.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, February 28th. This represents a $0.80 dividend on an annualized basis and a yield of 5.54%. Clearway Energy’s payout ratio is presently 162.96%.

A number of equities analysts recently weighed in on the company. TheStreet upgraded Clearway Energy from a “c” rating to a “b-” rating in a research report on Wednesday, October 31st. Zacks Investment Research lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Guggenheim lowered Clearway Energy from a “buy” rating to a “neutral” rating in a research report on Monday, January 7th. ValuEngine lowered Clearway Energy from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. Finally, Macquarie lowered Clearway Energy from an “outperform” rating to a “neutral” rating in a research report on Friday, February 15th. Three research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. Clearway Energy has an average rating of “Sell” and a consensus price target of $16.50.

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About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).

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