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

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 3,530,000 shares, an increase of 27.9% from the May 15th total of 2,760,000 shares. Currently, 1.8% of the company's shares are sold short. Based on an average trading volume of 985,400 shares, the days-to-cover ratio is presently 3.6 days.

Clearway Energy Trading Down 1.8%

Shares of CWEN stock opened at $31.65 on Wednesday. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.33. Clearway Energy has a 12-month low of $24.02 and a 12-month high of $32.33. The stock has a market capitalization of $6.40 billion, a P/E ratio of 39.56, a P/E/G ratio of 0.77 and a beta of 0.87. The firm's 50 day moving average is $29.64 and its 200 day moving average is $28.08.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. The company had revenue of $298.00 million for the quarter, compared to the consensus estimate of $305.74 million. Clearway Energy had a return on equity of 1.68% and a net margin of 6.69%. Clearway Energy's revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) earnings per share. Research analysts expect that Clearway Energy will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.4384 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.75 annualized dividend and a dividend yield of 5.54%. This is an increase from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's dividend payout ratio (DPR) is 218.75%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CWEN. Roth Mkm reiterated a "buy" rating and issued a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. Wall Street Zen lowered shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clearway Energy in a research report on Tuesday, March 25th. They set a "buy" rating and a $38.00 price target on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, Clearway Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.50.

Institutional Investors Weigh In On Clearway Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RWC Asset Management LLP raised its stake in Clearway Energy by 105.8% during the 4th quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock valued at $32,480,000 after purchasing an additional 642,322 shares during the period. King Luther Capital Management Corp grew its holdings in Clearway Energy by 2,840.3% during the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock valued at $14,143,000 after buying an additional 525,450 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of Clearway Energy by 79.1% during the first quarter. Gotham Asset Management LLC now owns 814,841 shares of the company's stock valued at $24,665,000 after buying an additional 359,876 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Clearway Energy by 251.4% in the fourth quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company's stock worth $12,235,000 after buying an additional 336,668 shares in the last quarter. Finally, Jupiter Asset Management Ltd. boosted its position in shares of Clearway Energy by 85.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 535,858 shares of the company's stock worth $13,932,000 after acquiring an additional 247,460 shares during the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

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.

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