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

Wall Street Zen downgraded shares of Clearway Energy (NYSE:CWEN) from a sell rating to a strong sell rating in a research note published on Saturday.

A number of other brokerages have also issued reports on CWEN. Deutsche Bank Aktiengesellschaft set a $41.00 target price on Clearway Energy in a research report on Thursday, April 9th. Truist Financial began coverage on Clearway Energy in a research report on Monday, July 13th. They set a “buy” rating and a $43.00 price target for the company. Zacks Research cut shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Morgan Stanley lifted their price objective on shares of Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Finally, UBS Group boosted their price objective on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $31.76 on Friday. The firm has a market cap of $6.52 billion, a PE ratio of 794.27 and a beta of 0.89. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. Clearway Energy has a 1-year low of $27.67 and a 1-year high of $41.74. The company has a fifty day moving average price of $35.89 and a 200 day moving average price of $37.47.

Clearway Energy (NYSE:CWEN) last released its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). The firm had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. Research analysts predict that Clearway Energy will post -1.03 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.4676 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.46. This represents a $1.87 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, June 1st. Clearway Energy’s dividend payout ratio (DPR) is presently 4,675.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CWEN. Caitong International Asset Management Co. Ltd grew its stake in Clearway Energy by 280.9% in the third 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 in the last quarter. National Bank of Canada FI raised its stake 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. Huntington National Bank grew its stake 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 buying an additional 412 shares in the last quarter. Allied Private Wealth LLC bought a new position in shares of Clearway Energy in the second quarter valued at $35,000. Finally, Geneos Wealth Management Inc. increased its holdings in Clearway Energy by 94.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after buying an additional 600 shares during the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

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.