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

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

Wall Street Analysts Forecast Growth

CWEN has been the topic of several research analyst reports. Roth Mkm restated a "buy" rating and set a $34.00 target price (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. StockNews.com raised Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They set a "buy" rating and a $38.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.71.

Clearway Energy Stock Performance

NYSE CWEN traded up $0.17 during trading hours on Wednesday, reaching $28.84. The stock had a trading volume of 181,341 shares, compared to its average volume of 875,963. Clearway Energy has a 52-week low of $24.02 and a 52-week high of $31.09. The stock has a fifty day moving average of $28.84 and a 200 day moving average of $27.55. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The stock has a market cap of $5.83 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.25) by $0.28. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $298.00 million for the quarter, compared to the consensus estimate of $305.74 million. During the same period in the prior year, the firm earned ($0.02) EPS. The business's revenue for the quarter was up 13.3% on a year-over-year basis. Sell-side analysts predict 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 will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.4384 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.75 dividend on an annualized basis and a dividend yield of 6.08%. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's dividend payout ratio (DPR) is presently 218.75%.

Hedge Funds Weigh In On Clearway Energy

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

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.