Clearway Energy, Inc. (NYSE:CWEN) Sees Large Decrease in Short Interest

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC raised its position in Clearway Energy by 74.5% in the first quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock worth $1,191,000 after acquiring an additional 22,059 shares during the period. Hancock Whitney Corp bought a new position in Clearway Energy in the third quarter worth approximately $1,486,000. Friedenthal Financial bought a new stake in shares of Clearway Energy during the 2nd quarter valued at $712,000. Edgestream Partners L.P. bought a new stake in shares of Clearway Energy during the 2nd quarter valued at $3,643,000. Finally, 1832 Asset Management L.P. bought a new stake in shares of Clearway Energy during the 2nd quarter valued at $32,310,000. 38.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective on the stock. CIBC increased their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Saturday. Finally, BNP Paribas assumed coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.13.

Clearway Energy Price Performance

Clearway Energy stock remained flat at $28.33 during midday trading on Wednesday. 334,936 shares of the company were exchanged, compared to its average volume of 865,095. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 1.39 and a beta of 0.86. The company’s 50 day simple moving average is $28.16 and its 200 day simple moving average is $27.53. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The company had revenue of $486.00 million for 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 firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter last year, the company earned $0.03 EPS. As a group, equities analysts forecast that Clearway Energy will post 0.78 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 5.99%. Clearway Energy’s dividend payout ratio (DPR) is presently 163.46%.

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.