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

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

CWEN has been the topic of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Zacks Research lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Royal Bank Of Canada lifted their target price on Clearway Energy from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Tuesday. Roth Mkm reissued a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Clearway Energy in a report on Tuesday. Finally, UBS Group set a $45.00 price target on shares of Clearway Energy in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus target price of $40.14.

Clearway Energy Stock Up 0.2%

Shares of NYSE CWEN opened at $38.36 on Friday. The stock has a market capitalization of $7.82 billion, a P/E ratio of 27.01, a PEG ratio of 1.66 and a beta of 0.95. The stock’s fifty day moving average is $36.19 and its 200 day moving average is $33.23. Clearway Energy has a 52 week low of $25.63 and a 52 week high of $41.51. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.44 and a current ratio of 1.13.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.The firm had revenue of $310.00 million for the quarter, compared to analyst estimates of $334.42 million. During the same quarter in the previous year, the company earned ($0.41) earnings per share. Sell-side analysts forecast that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearway Energy

A number of large investors have recently bought and sold shares of the stock. Clearbridge Investments LLC raised its holdings in shares of Clearway Energy by 26.7% during the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock valued at $154,890,000 after purchasing an additional 981,488 shares during the period. Wellington Management Group LLP bought a new stake in Clearway Energy in the 4th quarter valued at about $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Clearway Energy by 1,116.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock worth $13,757,000 after buying an additional 394,579 shares during the period. Synergy Asset Management LLC bought a new position in Clearway Energy in the third quarter worth approximately $6,473,000. Finally, Capula Management Ltd acquired a new stake in Clearway Energy in the third quarter valued at approximately $4,646,000. 84.53% of the stock is currently 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.