Short Interest in Clearway Energy, Inc. (NYSE:CWEN) Decreases By 8.2%

Clearway Energy, Inc. (NYSE:CWEN) saw a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,230,000 shares, a drop of 8.2% from the October 31st total of 2,430,000 shares. Based on an average daily volume of 878,000 shares, the short-interest ratio is presently 2.5 days. Currently, 2.7% of the company’s shares are short sold.

Clearway Energy Stock Down 1.4 %

CWEN stock traded down $0.41 during trading on Monday, hitting $29.08. 991,656 shares of the stock traded hands, compared to its average volume of 867,417. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.87. Clearway Energy has a 1 year low of $20.63 and a 1 year high of $30.92. The firm’s 50 day moving average is $28.21 and its two-hundred day moving average is $27.50.

Clearway Energy (NYSE:CWEN) last posted its 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). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. During the same period in the previous year, the business posted $0.03 EPS. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. On average, sell-side analysts anticipate that Clearway Energy will post 0.78 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Monday, December 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s payout ratio is 160.58%.

Hedge Funds Weigh In On Clearway Energy

A number of institutional investors and hedge funds have recently modified their holdings of CWEN. Ashton Thomas Securities LLC bought a new stake in shares of Clearway Energy during the 3rd quarter valued at $50,000. Whittier Trust Co. lifted its stake in shares of Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Clearway Energy during the third quarter worth about $71,000. Quarry LP lifted its stake in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in Clearway Energy in the 3rd quarter worth approximately $106,000. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CWEN has been the subject of a number of recent analyst reports. BNP Paribas began coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target for the company. Jefferies Financial Group initiated coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, CIBC raised their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Company Profile

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.