Clearway Energy (NYSE:CWEN) Downgraded to Sell Rating by Wall Street Zen

Clearway Energy (NYSE:CWEN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada initiated coverage on shares of Clearway Energy in a report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 price objective for the company. Cibc Captl Mkts raised shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Roth Capital lifted their price objective on Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Evercore ISI started coverage on Clearway Energy in a report on Monday, October 6th. They set an “in-line” rating and a $34.00 target price on the stock. Finally, UBS Group restated a “buy” rating and issued a $39.00 target price on shares of Clearway Energy in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Clearway Energy Trading Down 1.1%

CWEN opened at $32.03 on Friday. Clearway Energy has a one year low of $24.40 and a one year high of $36.89. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.54 and a quick ratio of 1.44. The business has a 50 day simple moving average of $34.12 and a two-hundred day simple moving average of $31.88. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 1.22 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $427.72 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The business’s revenue was down 11.7% compared to the same quarter last year. Analysts predict that Clearway Energy will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Clearway Energy

Hedge funds have recently bought and sold shares of the company. Ballentine Partners LLC increased its stake in Clearway Energy by 2.3% during the 3rd quarter. Ballentine Partners LLC now owns 16,763 shares of the company’s stock valued at $474,000 after purchasing an additional 371 shares in the last quarter. Measured Risk Portfolios Inc. grew its holdings in shares of Clearway Energy by 0.6% during the third quarter. Measured Risk Portfolios Inc. now owns 79,228 shares of the company’s stock valued at $2,238,000 after buying an additional 469 shares during the last quarter. James Investment Research Inc. grew its holdings in shares of Clearway Energy by 6.3% during the third quarter. James Investment Research Inc. now owns 7,966 shares of the company’s stock valued at $225,000 after buying an additional 473 shares during the last quarter. CW Advisors LLC increased its holdings in shares of Clearway Energy by 3.6% in the 2nd quarter. CW Advisors LLC now owns 15,185 shares of the company’s stock worth $486,000 after purchasing an additional 525 shares in the last quarter. Finally, Abundance Wealth Counselors grew its stake in shares of Clearway Energy by 1.5% in the third quarter. Abundance Wealth Counselors now owns 39,760 shares of the company’s stock worth $1,123,000 after acquiring an additional 602 shares during the period. Institutional investors own 84.53% of the company’s stock.

About Clearway Energy

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.