Short Interest in Clearway Energy, Inc. (NYSE:CWEN) Grows By 28.2%

Clearway Energy, Inc. (NYSE:CWEN) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 3,230,000 shares, a growth of 28.2% from the May 15th total of 2,520,000 shares. Approximately 4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 921,900 shares, the days-to-cover ratio is presently 3.5 days.

Clearway Energy Trading Down 1.4 %

Shares of NYSE CWEN traded down $0.36 during midday trading on Monday, hitting $26.24. The stock had a trading volume of 256,902 shares, compared to its average volume of 898,021. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 39.32 and a beta of 0.89. The company has a quick ratio of 1.65, a current ratio of 1.71 and a debt-to-equity ratio of 1.50. Clearway Energy has a 1-year low of $18.59 and a 1-year high of $30.09. The company has a fifty day moving average price of $25.41 and a 200 day moving average price of $24.64.

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

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is 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 yield of 6.25%. Clearway Energy’s payout ratio is currently 248.49%.

Insider Transactions at Clearway Energy

In related news, Director Se Totalenergies bought 196,964 shares of the stock in a transaction dated Thursday, March 28th. The shares were purchased at an average price of $22.86 per share, with a total value of $4,502,597.04. Following the completion of the acquisition, the director now owns 295,235 shares of the company’s stock, valued at $6,749,072.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Clearway Energy

Institutional investors have recently made changes to their positions in the company. Apollo Management Holdings L.P. boosted its position in Clearway Energy by 38.4% during the 1st quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock worth $37,924,000 after acquiring an additional 456,197 shares during the period. First Trust Advisors LP boosted its stake in shares of Clearway Energy by 4.3% during the 4th quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock worth $25,032,000 after acquiring an additional 38,032 shares in the last quarter. Westwood Holdings Group Inc. bought a new stake in shares of Clearway Energy during the 4th quarter worth about $9,807,000. Pinebridge Investments L.P. boosted its stake in Clearway Energy by 31.8% during the 4th quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock valued at $9,202,000 after purchasing an additional 80,962 shares during the period. Finally, Yaupon Capital Management LP bought a new stake in Clearway Energy during the 1st quarter valued at approximately $7,346,000. 38.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CWEN. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Evercore ISI increased their target price on Clearway Energy from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. Morgan Stanley lifted their price target on Clearway Energy from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, March 1st. Marathon Capitl reissued an “equal weight” rating on shares of Clearway Energy in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada dropped their target price on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and an average price target of $29.00.

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.