Guggenheim Downgrades Clearway Energy (CWEN) to Sell

Clearway Energy (NYSE:CWEN) was downgraded by equities researchers at Guggenheim from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

CWEN has been the topic of several other reports. Zacks Investment Research cut shares of Clearway Energy from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 15th. TheStreet cut shares of Clearway Energy from a “b-” rating to a “c” rating in a research note on Friday, December 7th. Finally, ValuEngine cut shares of Clearway Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th.

CWEN opened at $14.68 on Wednesday. Clearway Energy has a one year low of $13.44 and a one year high of $20.75. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 2.07. The company has a market cap of $2.84 billion, a PE ratio of 18.12, a P/E/G ratio of 0.34 and a beta of 1.23.

In other Clearway Energy news, major shareholder Infrastructure Investor Global acquired 132,612 shares of Clearway Energy stock in a transaction on Thursday, December 27th. The shares were purchased at an average cost of $16.59 per share, with a total value of $2,200,033.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC acquired a new stake in Clearway Energy in the third quarter worth $83,475,000. Beach Investment Counsel Inc. PA acquired a new stake in Clearway Energy in the third quarter worth $22,539,000. Reaves W H & Co. Inc. raised its holdings in Clearway Energy by 427.7% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,007,419 shares of the company’s stock worth $17,378,000 after purchasing an additional 816,500 shares during the period. Verition Fund Management LLC acquired a new stake in Clearway Energy in the third quarter worth $7,077,000. Finally, Mcclain Value Management LLC acquired a new stake in Clearway Energy in the third quarter worth $5,710,000. 29.72% of the stock is currently owned by hedge funds and other institutional investors.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).

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