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

Clearway Energy, Inc. (NYSE:CWEN - Get Free Report) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totalling 2,390,000 shares, a decline of 16.7% from the March 31st total of 2,870,000 shares. Approximately 2.9% of the company's stock are short sold. Based on an average trading volume of 1,040,000 shares, the days-to-cover ratio is currently 2.3 days.

Analysts Set New Price Targets

CWEN has been the topic of a number of recent research reports. StockNews.com upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 target price on the stock. Finally, Roth Mkm restated a "buy" rating and issued a $34.00 price objective (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.71.

Clearway Energy Stock Performance

Shares of NYSE CWEN traded down $0.16 during midday trading on Friday, reaching $28.79. 685,114 shares of the company traded hands, compared to its average volume of 878,267. The stock has a 50-day moving average price of $28.80 and a 200 day moving average price of $27.53. The company has a market cap of $5.82 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 1.75 and a beta of 0.89. 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 has a 52 week low of $24.02 and a 52 week high of $31.09.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.25) by $0.28. The firm had revenue of $298.00 million for the quarter, compared to analysts' expectations of $305.74 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) earnings per share. Sell-side analysts anticipate that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.4384 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.75 annualized dividend and a dividend yield of 6.09%. This is a boost from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's dividend payout ratio is currently 218.75%.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors and hedge funds have recently modified their holdings of CWEN. Alpine Bank Wealth Management purchased a new stake in Clearway Energy during the first quarter valued at about $27,000. Mascoma Wealth Management LLC purchased a new stake in Clearway Energy in the 4th quarter worth about $28,000. New Age Alpha Advisors LLC purchased a new position in Clearway Energy during the 4th quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new stake in shares of Clearway Energy in the fourth quarter worth approximately $51,000. Finally, Tsfg LLC purchased a new position in Clearway Energy during the first quarter valued at approximately $61,000. 84.53% of the stock is owned by institutional investors and hedge funds.

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.