Clearway Energy, Inc. (NYSE:CWEN) Short Interest Down 8.2% in November

Clearway Energy, Inc. (NYSE:CWEN) was the target of a significant 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 sold short.

Clearway Energy Stock Performance

Clearway Energy stock traded down $0.41 during mid-day trading on Monday, reaching $29.08. 991,656 shares of the company traded hands, compared to its average volume of 867,417. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The firm’s fifty day moving average is $28.21 and its two-hundred day moving average is $27.50. 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 company has a market capitalization 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 (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. On average, equities research analysts expect that Clearway Energy will post 0.78 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business 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 dividend of $0.424 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.83%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio (DPR) is presently 160.58%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

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

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.