Clearway Energy (NYSE:CWEN) Cut to Sell at StockNews.com

StockNews.com lowered shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a research report released on Tuesday.

Separately, Roth Mkm reissued a “buy” rating and set a $34.00 price target (up from $33.00) on shares of Clearway Energy in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Clearway Energy currently has an average rating of “Moderate Buy” and an average target price of $34.17.

Clearway Energy Stock Down 1.6 %

CWEN stock opened at $27.31 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The stock has a market capitalization of $5.52 billion, a P/E ratio of 26.26, a P/E/G ratio of 1.75 and a beta of 0.88. The business has a fifty day moving average price of $26.14 and a 200-day moving average price of $27.53. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Monday, February 24th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The business had revenue of $256.00 million for the quarter, compared to analysts’ expectations of $299.73 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Equities analysts forecast that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.4312 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.32%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is 165.38%.

Insider Activity

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the sale, the director now directly owns 8,153 shares of the company’s stock, valued at $218,011.22. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Creative Planning increased its holdings in Clearway Energy by 23.5% during the 3rd quarter. Creative Planning now owns 16,450 shares of the company’s stock worth $505,000 after purchasing an additional 3,134 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Clearway Energy by 11.8% in the third quarter. Nisa Investment Advisors LLC now owns 20,890 shares of the company’s stock valued at $641,000 after acquiring an additional 2,200 shares during the period. abrdn plc grew its position in Clearway Energy by 8.7% during the 3rd quarter. abrdn plc now owns 461,200 shares of the company’s stock worth $14,150,000 after purchasing an additional 37,100 shares during the last quarter. Congress Asset Management Co. increased its position in Clearway Energy by 0.4% in the 3rd quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock valued at $5,806,000 after acquiring an additional 699 shares during the period. Finally, James Investment Research Inc. purchased a new stake in shares of Clearway Energy during the third quarter worth approximately $230,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

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.