Wall Street Zen Upgrades Clearway Energy (NYSE:CWEN) to “Sell”

Clearway Energy (NYSE:CWEN) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Sunday.

Other equities analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce set a $42.00 target price on shares of Clearway Energy in a report on Friday, July 17th. UBS Group upped their price target on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Weiss Ratings upgraded shares of Clearway Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday. Truist Financial began coverage on shares of Clearway Energy in a research note on Monday, July 13th. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Zacks Research downgraded shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Clearway Energy Stock Performance

NYSE:CWEN opened at $33.08 on Friday. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 43.53 and a beta of 0.89. Clearway Energy has a fifty-two week low of $27.67 and a fifty-two week high of $41.74. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. The stock has a fifty day moving average price of $34.93 and a 200-day moving average price of $37.39.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.76. The company had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. As a group, equities analysts anticipate that Clearway Energy will post -0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank raised its position in 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 purchasing an additional 412 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Clearway Energy by 280.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after purchasing an additional 705 shares during the last quarter. National Bank of Canada FI increased its stake in shares of Clearway Energy by 201.9% in the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after buying an additional 652 shares during the period. Allied Private Wealth LLC acquired a new position in shares of Clearway Energy in the second quarter valued at approximately $35,000. Finally, Geneos Wealth Management Inc. raised its holdings in Clearway Energy by 94.5% in the 4th 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 during the last quarter. Institutional investors own 84.53% of the company’s stock.

About Clearway Energy

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.