Short Interest in Clearway Energy, Inc. (NYSE:CWEN) Increases By 7.9%

Clearway Energy, Inc. (NYSE:CWEN) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 3,140,000 shares, a growth of 7.9% from the June 30th total of 2,910,000 shares. Based on an average daily volume of 835,300 shares, the days-to-cover ratio is currently 3.8 days. Currently, 4.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Clearway Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in Clearway Energy in the 4th quarter valued at $25,000. Mather Group LLC. purchased a new position in Clearway Energy in the 1st quarter valued at $37,000. Abich Financial Wealth Management LLC boosted its position in shares of Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after purchasing an additional 625 shares in the last quarter. Avalon Trust Co purchased a new stake in shares of Clearway Energy during the 4th quarter worth $47,000. Finally, Whittier Trust Co. boosted its position 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 worth $50,000 after purchasing an additional 512 shares in the last quarter. 38.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Roth Mkm upped their target price on shares of Clearway Energy from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Evercore ISI upped their target price on shares of Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.00.

Clearway Energy Price Performance

Shares of CWEN remained flat at $26.32 during mid-day trading on Tuesday. 520,473 shares of the stock were exchanged, compared to its average volume of 876,358. The company has a quick ratio of 1.65, a current ratio of 1.71 and a debt-to-equity ratio of 1.50. The stock has a market cap of $5.32 billion, a PE ratio of 39.88 and a beta of 0.86. The stock’s 50-day simple moving average is $26.05 and its two-hundred day simple moving average is $24.42. Clearway Energy has a twelve month low of $18.59 and a twelve month high of $28.71.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Thursday, May 9th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.25. The business had revenue of $263.00 million for the quarter, compared to analyst estimates of $286.26 million. Clearway Energy had a net margin of 5.97% and a return on equity of 1.67%. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. Equities research analysts predict that Clearway Energy will post 1.01 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a dividend of $0.41 per share. The ex-dividend date was Monday, June 3rd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 6.23%. Clearway Energy’s dividend payout ratio (DPR) is currently 248.49%.

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.