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

Clearway Energy (NYSE:CWEN) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Thursday.

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

Clearway Energy Stock Performance

CWEN stock opened at $27.56 on Thursday. The firm has a market cap of $5.57 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average price of $28.23 and a 200-day moving average price of $27.24. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Clearway Energy during the third quarter valued at about $50,000. Abich Financial Wealth Management LLC raised its position in shares of Clearway Energy by 49.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after acquiring an additional 625 shares in the last quarter. Whittier Trust Co. lifted its stake 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 valued at $50,000 after purchasing an additional 512 shares during the period. Quarry LP lifted its stake in shares of Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after purchasing an additional 843 shares during the period. Finally, Icon Wealth Advisors LLC purchased a new stake in Clearway Energy in the third quarter worth $106,000. 38.03% of the stock is owned by institutional investors.

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.