Clearway Energy (NYSE:CWEN) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a research note issued to investors on Thursday.

Several other equities analysts have also issued reports on CWEN. Roth Mkm reissued a “buy” rating and set a $32.00 target price (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price target on the stock. BNP Paribas began coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. CIBC upped their target price on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Trading Up 0.2 %

NYSE CWEN traded up $0.05 during trading hours on Thursday, reaching $27.41. The company had a trading volume of 238,613 shares, compared to its average volume of 870,429. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92. The stock has a market capitalization of $5.54 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87. The stock has a 50-day moving average of $28.23 and a 200 day moving average of $27.21. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. During the same period in the previous year, the business posted $0.03 EPS. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, research analysts anticipate that Clearway Energy will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.424 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 6.19%. Clearway Energy’s payout ratio is 160.58%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CWEN. PDT Partners LLC raised its holdings in shares of Clearway Energy by 30.7% in the third quarter. PDT Partners LLC now owns 59,791 shares of the company’s stock valued at $1,834,000 after buying an additional 14,058 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in Clearway Energy in the 3rd quarter valued at about $106,000. Rockefeller Capital Management L.P. raised its stake in Clearway Energy by 7.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 42,272 shares of the company’s stock valued at $1,296,000 after acquiring an additional 2,837 shares during the last quarter. Hancock Whitney Corp acquired a new stake in Clearway Energy during the 3rd quarter worth approximately $1,486,000. Finally, Cerity Partners LLC grew its stake in shares of Clearway Energy by 46.7% in the 3rd quarter. Cerity Partners LLC now owns 18,102 shares of the company’s stock valued at $555,000 after purchasing an additional 5,764 shares during the last quarter. Hedge funds and other institutional investors own 38.03% 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.