Short Interest in Clearway Energy, Inc. (NYSE:CWEN) Rises By 10.2%

Clearway Energy, Inc. (NYSE:CWENGet Free Report) saw a significant growth in short interest in February. As of February 29th, there was short interest totalling 2,800,000 shares, a growth of 10.2% from the February 14th total of 2,540,000 shares. Currently, 3.5% of the shares of the company are short sold. Based on an average daily trading volume, of 909,100 shares, the short-interest ratio is currently 3.1 days.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors have recently modified their holdings of the company. ClearBridge Investments Ltd grew its position in Clearway Energy by 4.0% in the 1st quarter. ClearBridge Investments Ltd now owns 5,246,887 shares of the company’s stock valued at $77,619,000 after acquiring an additional 204,217 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Clearway Energy by 49.2% during the 1st quarter. 1832 Asset Management L.P. now owns 2,328,073 shares of the company’s stock worth $72,939,000 after buying an additional 767,961 shares during the period. First Trust Advisors LP lifted its holdings in Clearway Energy by 4.3% during the 4th quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock worth $25,032,000 after buying an additional 38,032 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Clearway Energy by 8.9% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 832,538 shares of the company’s stock worth $17,617,000 after acquiring an additional 68,023 shares in the last quarter. Finally, Foresight Group Ltd Liability Partnership purchased a new stake in shares of Clearway Energy during the fourth quarter worth $21,485,000. 33.94% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Trading Down 0.2 %

Shares of CWEN stock opened at $21.01 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 1.66 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average price is $23.51 and its 200-day moving average price is $23.67. Clearway Energy has a twelve month low of $18.59 and a twelve month high of $32.24. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 30.90 and a beta of 0.87.

Clearway Energy (NYSE:CWENGet Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.15. Clearway Energy had a net margin of 6.01% and a return on equity of 1.80%. The company had revenue of $249.00 million during the quarter, compared to analyst estimates of $282.45 million. During the same quarter last year, the firm posted $0.10 earnings per share. Clearway Energy’s revenue was down 18.4% compared to the same quarter last year. As a group, equities analysts predict that Clearway Energy will post 0.93 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.403 per share. This represents a $1.61 dividend on an annualized basis and a yield of 7.67%. This is a boost from Clearway Energy’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 29th. Clearway Energy’s dividend payout ratio is 236.76%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CWEN shares. Oppenheimer lifted their price target on Clearway Energy from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. Morgan Stanley boosted their price objective on Clearway Energy from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Royal Bank of Canada decreased their target price on Clearway Energy from $26.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 27th. Finally, StockNews.com lowered shares of Clearway Energy from a “hold” rating to a “sell” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Clearway Energy currently has a consensus rating of “Hold” and a consensus target price of $28.33.

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About Clearway Energy

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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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