Short Interest in Clearway Energy, Inc. (NYSE:CWEN) Increases By 8.5%

Clearway Energy, Inc. (NYSE:CWEN) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 2,430,000 shares, an increase of 8.5% from the October 15th total of 2,240,000 shares. Based on an average trading volume of 850,100 shares, the short-interest ratio is currently 2.9 days. Approximately 3.0% of the company’s stock are short sold.

Clearway Energy Stock Performance

Shares of CWEN opened at $27.57 on Tuesday. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 2.44 and a beta of 0.87. The stock has a 50 day moving average of $28.23 and a 200 day moving average of $27.33. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The business had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s revenue was up 31.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.03 earnings per share. As a group, sell-side analysts forecast that Clearway Energy will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.15%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. Clearway Energy’s dividend payout ratio (DPR) is presently 160.58%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. CIBC increased their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. Morgan Stanley upgraded Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. StockNews.com lowered Clearway Energy from a “hold” rating to a “sell” rating in a report on Thursday, November 14th. Jefferies Financial Group assumed coverage on Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price target on the stock. Finally, BNP Paribas assumed coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.13.

Institutional Trading of Clearway Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Fulton Bank N.A. increased its position in Clearway Energy by 3.8% in the third quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock worth $374,000 after buying an additional 449 shares during the last quarter. Whittier Trust Co. increased its position in Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after buying an additional 512 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Clearway Energy by 5.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock worth $302,000 after buying an additional 654 shares during the last quarter. Finally, Congress Asset Management Co. increased its position in Clearway Energy by 0.4% in the third quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock worth $5,806,000 after buying an additional 699 shares during the last quarter. 38.03% of the stock is owned by hedge funds and other institutional investors.

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.