Clearway Energy, Inc. (NYSE:CWEN) Short Interest Up 7.9% in July

Clearway Energy, Inc. (NYSE:CWEN) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totalling 3,140,000 shares, an increase of 7.9% from the June 30th total of 2,910,000 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average daily volume of 835,300 shares, the days-to-cover ratio is presently 3.8 days.

Hedge Funds Weigh In On Clearway Energy

Several large investors have recently added to or reduced their stakes in the business. Scarborough Advisors LLC bought a new position in shares of Clearway Energy in the fourth quarter valued at approximately $25,000. Mather Group LLC. purchased a new stake in Clearway Energy in the 1st quarter valued at $37,000. Abich Financial Wealth Management LLC increased its stake in Clearway Energy by 49.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after buying an additional 625 shares during the last quarter. Avalon Trust Co bought a new position in shares of Clearway Energy during the 4th quarter worth approximately $47,000. Finally, Whittier Trust Co. boosted its holdings in shares of Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after buying an additional 512 shares during the last quarter. Institutional investors own 38.03% of the company’s stock.

Clearway Energy Stock Up 3.9 %

CWEN stock traded up $1.03 during trading on Thursday, reaching $27.71. 40,881 shares of the stock were exchanged, compared to its average volume of 873,562. The firm’s 50 day moving average is $26.05 and its 200 day moving average is $24.42. The firm has a market cap of $5.60 billion, a P/E ratio of 40.36 and a beta of 0.86. The company has a current ratio of 1.71, a quick ratio of 1.65 and a debt-to-equity ratio of 1.50. Clearway Energy has a twelve month low of $18.59 and a twelve month high of $28.71.

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

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.40. Clearway Energy’s dividend payout ratio is currently 248.49%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CWEN. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $25.00 to $36.00 in a research report on Wednesday. Roth Mkm upped their price target on shares of Clearway Energy from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Evercore ISI lifted their price objective on Clearway Energy from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Finally, StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clearway Energy presently has an average rating of “Moderate Buy” and an average price target of $30.83.

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.