Clearway Energy (NYSE:CWEN) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th. Roth Capital boosted their target price on shares of Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. CIBC upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and upped their price target for the company from $37.00 to $38.00 in a research note on Tuesday, December 16th. Royal Bank Of Canada began coverage on shares of Clearway Energy in a research note on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, UBS Group reissued a “buy” rating and issued a $39.00 target price on shares of Clearway Energy in a research report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and an average target price of $37.25.

Clearway Energy Price Performance

NYSE CWEN opened at $32.03 on Friday. The firm’s fifty day simple moving average is $34.12 and its two-hundred day simple moving average is $31.88. The firm has a market capitalization of $6.53 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.21 and a beta of 0.95. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. Clearway Energy has a 12-month low of $24.40 and a 12-month high of $36.89.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The firm had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $427.72 million. During the same quarter last year, the firm earned $0.31 EPS. The business’s quarterly revenue was down 11.7% on a year-over-year basis. Analysts forecast that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.4528 dividend. The ex-dividend date was Monday, December 1st. This is an increase from Clearway Energy’s previous quarterly dividend of $0.45. This represents a $1.81 dividend on an annualized basis and a dividend yield of 5.7%. Clearway Energy’s dividend payout ratio (DPR) is currently 77.35%.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds have recently added to or reduced their stakes in CWEN. First Trust Advisors LP raised its stake in shares of Clearway Energy by 3.7% during the 2nd quarter. First Trust Advisors LP now owns 2,171,301 shares of the company’s stock valued at $69,482,000 after buying an additional 77,595 shares during the last quarter. RWC Asset Management LLP grew its holdings in Clearway Energy by 12.2% during the third quarter. RWC Asset Management LLP now owns 745,537 shares of the company’s stock worth $21,061,000 after acquiring an additional 81,349 shares during the period. Cbre Investment Management Listed Real Assets LLC raised its position in Clearway Energy by 8.8% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company’s stock valued at $17,656,000 after acquiring an additional 50,344 shares in the last quarter. Aberdeen Group plc lifted its holdings in Clearway Energy by 0.3% in the third quarter. Aberdeen Group plc now owns 580,307 shares of the company’s stock valued at $16,463,000 after acquiring an additional 1,807 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Clearway Energy by 1.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock worth $12,290,000 after purchasing an additional 5,142 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

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.