Wall Street Zen Downgrades Clearway Energy (NYSE:CWEN) to Strong Sell

Clearway Energy (NYSE:CWEN) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued on Saturday.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Canadian Imperial Bank of Commerce upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and increased their price target for the company from $37.00 to $38.00 in a research report on Tuesday, December 16th. Royal Bank Of Canada lifted their price objective on shares of Clearway Energy from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday. Roth Mkm reaffirmed a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Clearway Energy in a research note on Tuesday. Finally, UBS Group set a $45.00 price target on shares of Clearway Energy in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.14.

Clearway Energy Price Performance

Shares of Clearway Energy stock opened at $38.36 on Friday. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 1.66 and a beta of 0.95. The firm’s 50-day moving average price is $36.19 and its two-hundred day moving average price is $33.23. The company has a current ratio of 1.13, a quick ratio of 1.44 and a debt-to-equity ratio of 1.36. Clearway Energy has a 1-year low of $25.63 and a 1-year high of $41.51.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Monday, February 23rd. The company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.The company had revenue of $310.00 million for the quarter, compared to the consensus estimate of $334.42 million. During the same period in the prior year, the company earned ($0.41) EPS. On average, equities analysts predict that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearway Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Huntington National Bank boosted its position in shares of Clearway Energy by 92.4% in the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after acquiring an additional 412 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after purchasing an additional 705 shares during the period. National Bank of Canada FI grew its position in shares of Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Mather Group LLC. bought a new position in shares of Clearway Energy during the third quarter worth approximately $29,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Clearway Energy by 94.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.