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

StockNews.com downgraded shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a research note published on Saturday.

Several other equities research analysts have also recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. CIBC increased their target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. BNP Paribas initiated coverage on Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target for the company. Finally, Jefferies Financial Group began coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Trading Down 0.0 %

Shares of CWEN opened at $29.49 on Friday. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 1.41 and a beta of 0.87. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92. The company has a 50-day moving average of $28.21 and a 200 day moving average of $27.50.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The firm had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. During the same period in the previous year, the company posted $0.03 EPS. Clearway Energy’s quarterly revenue was up 31.0% compared to the same quarter last year. On average, research analysts expect that Clearway Energy will post 0.78 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. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, December 2nd. This represents a $1.70 dividend on an annualized basis and a dividend yield of 5.75%. Clearway Energy’s payout ratio is presently 162.50%.

Institutional Trading of Clearway Energy

Institutional investors have recently bought and sold shares of the stock. 1832 Asset Management L.P. purchased a new position in shares of Clearway Energy in the second quarter worth $32,310,000. Point72 Asset Management L.P. raised its stake in Clearway Energy by 60.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,016,837 shares of the company’s stock worth $25,106,000 after acquiring an additional 384,837 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Clearway Energy by 144.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after acquiring an additional 254,486 shares during the period. Yaupon Capital Management LP grew its stake in Clearway Energy by 209.3% during the 3rd quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock valued at $9,991,000 after purchasing an additional 220,360 shares during the last quarter. Finally, HITE Hedge Asset Management LLC increased its holdings in shares of Clearway Energy by 130.7% in the second quarter. HITE Hedge Asset Management LLC now owns 272,257 shares of the company’s stock valued at $6,722,000 after purchasing an additional 154,239 shares during the period. 38.03% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Company Profile

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.