Clearway Energy (NYSE:CWEN) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a report published on Thursday morning.

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

Clearway Energy Price Performance

Shares of NYSE CWEN opened at $27.56 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. The stock has a fifty day moving average price of $28.23 and a 200 day moving average price of $27.30. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92. The company has a market cap of $5.57 billion, a PE ratio of 26.50, a P/E/G ratio of 2.44 and a beta of 0.87.

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

Clearway Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.424 dividend. This is a boost from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 annualized dividend and a yield of 6.15%. Clearway Energy’s payout ratio is 162.50%.

Institutional Trading of Clearway Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in shares of Clearway Energy by 74.5% in the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after purchasing an additional 22,059 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Clearway Energy in the 1st quarter valued at about $1,010,000. Friedenthal Financial acquired a new position in shares of Clearway Energy in the 2nd quarter valued at about $712,000. Edgestream Partners L.P. acquired a new position in shares of Clearway Energy in the 2nd quarter valued at about $3,643,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Clearway Energy in the 2nd quarter valued at about $32,310,000. Hedge funds and other institutional investors own 38.03% of the company’s stock.

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.