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

Clearway Energy (NYSE:CWEN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities research analysts have also recently issued reports on the company. Roth Mkm reiterated a “buy” rating and issued a $32.00 price objective (up from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. BNP Paribas assumed coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target on the stock. CIBC increased their price objective on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group assumed coverage on Clearway Energy in a report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Trading Down 0.0 %

Shares of NYSE:CWEN opened at $29.49 on Friday. The business’s 50 day moving average price is $28.21 and its 200-day moving average price is $27.50. Clearway Energy has a 1 year low of $20.63 and a 1 year high of $30.92. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.87. 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 (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 analyst estimates of $417.55 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The business’s revenue was up 31.0% on a year-over-year basis. On average, equities research analysts forecast that Clearway Energy will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently modified their holdings of CWEN. Tidal Investments LLC lifted its holdings in Clearway Energy by 74.5% in the first quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after acquiring an additional 22,059 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Clearway Energy by 12.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 38,400 shares of the company’s stock worth $885,000 after purchasing an additional 4,100 shares during the period. Fulton Bank N.A. grew its holdings in shares of Clearway Energy by 12.9% during the 2nd quarter. Fulton Bank N.A. now owns 11,757 shares of the company’s stock worth $290,000 after purchasing an additional 1,347 shares during the period. Friedenthal Financial acquired a new stake in shares of Clearway Energy during the 2nd quarter worth about $712,000. Finally, Monetary Management Group Inc. raised its holdings in Clearway Energy by 228.6% in the 2nd quarter. Monetary Management Group Inc. now owns 13,800 shares of the company’s stock valued at $341,000 after buying an additional 9,600 shares during the period. Hedge funds and other institutional investors own 38.03% of the company’s stock.

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.