Clearway Energy, Inc. (NYSE:CWEN) Short Interest Up 8.5% in October

Clearway Energy, Inc. (NYSE:CWEN) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,430,000 shares, an increase of 8.5% from the October 15th total of 2,240,000 shares. Based on an average daily trading volume, of 850,100 shares, the short-interest ratio is currently 2.9 days. Currently, 3.0% of the company’s stock are sold short.

Clearway Energy Stock Performance

Shares of CWEN traded up $0.01 during mid-day trading on Monday, hitting $27.57. The stock had a trading volume of 600,938 shares, compared to its average volume of 871,023. The firm has a market cap of $5.57 billion, a P/E ratio of 26.51, a PEG ratio of 2.44 and a beta of 0.87. The business has a fifty day moving average price of $28.23 and a 200-day moving average price of $27.33. 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 $20.63 and a 52 week high of $30.92.

Clearway Energy (NYSE:CWEN) last issued its earnings results 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). The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 earnings per share. On average, equities research analysts expect that Clearway Energy will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.15%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. Clearway Energy’s payout ratio is presently 162.50%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CWEN. Jefferies Financial Group began coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 target price on the stock. CIBC lifted their target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. StockNews.com cut Clearway Energy from a “hold” rating to a “sell” rating in a research report on Thursday. BNP Paribas began coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $33.13.

Institutional Trading of Clearway Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in CWEN. 1832 Asset Management L.P. bought a new stake in shares of Clearway Energy during the 2nd quarter valued at $32,310,000. Apollo Management Holdings L.P. raised its stake in shares of 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 valued at $37,924,000 after purchasing an additional 456,197 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Clearway Energy by 60.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock valued at $25,106,000 after purchasing an additional 384,837 shares during the period. Yaupon Capital Management LP bought a new stake in shares of Clearway Energy during the 1st quarter valued at $7,346,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Clearway Energy by 144.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock valued at $10,623,000 after purchasing an additional 254,486 shares during the period. 38.03% of the stock is currently owned by 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.