Clearway Energy, Inc. (NYSE:CWEN) Short Interest Update

Clearway Energy, Inc. (NYSE:CWEN) saw a large increase in short interest during the month of 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 daily volume of 850,100 shares, the short-interest ratio is presently 2.9 days. Currently, 3.0% of the company’s stock are short sold.

Clearway Energy Trading Up 0.0 %

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

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business earned $0.03 EPS. On average, equities research analysts anticipate that Clearway Energy will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.424 dividend. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 annualized dividend and a yield of 6.15%. Clearway Energy’s dividend payout ratio is currently 162.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC bought a new position in Clearway Energy during the third quarter worth $50,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Clearway Energy by 49.8% during 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 in the last quarter. Whittier Trust Co. boosted its position in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares during the period. Quarry LP grew its stake in shares of Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after acquiring an additional 843 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new position in Clearway Energy during the third quarter worth about $106,000. 38.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CWEN shares. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $25.00 to $36.00 in a research note on Wednesday, July 31st. StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Thursday, November 14th. Roth Mkm restated a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. CIBC lifted their price objective on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group began coverage on shares of Clearway Energy in a research note on Friday, September 20th. They set a “buy” rating and a $35.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.