Clearway Energy (NYSE:CWEN) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a research report released on Friday.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Clearway Energy in a research report on Tuesday, March 25th. They set a “buy” rating and a $38.00 price objective on the stock. Roth Mkm reiterated a “buy” rating and set a $34.00 target price (up from $33.00) on shares of Clearway Energy in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Clearway Energy Stock Up 1.5%

CWEN stock opened at $30.80 on Friday. Clearway Energy has a twelve month low of $24.02 and a twelve month high of $31.09. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The firm has a market cap of $6.23 billion, a PE ratio of 29.62, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. The business has a 50 day moving average of $29.21 and a 200 day moving average of $27.88.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.25) by $0.28. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $298.00 million for the quarter, compared to the consensus estimate of $305.74 million. During the same period in the prior year, the firm posted ($0.02) EPS. Clearway Energy’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts forecast that Clearway Energy will post 0.83 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.4384 per share. This represents a $1.75 annualized dividend and a yield of 5.69%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Monday, June 2nd. Clearway Energy’s dividend payout ratio (DPR) is currently 218.75%.

Hedge Funds Weigh In On Clearway Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Clearway Energy in the 1st quarter worth $27,000. Mascoma Wealth Management LLC purchased a new position in shares of Clearway Energy in the 4th quarter worth $28,000. New Age Alpha Advisors LLC purchased a new position in shares of Clearway Energy in the 4th quarter worth $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Clearway Energy in the 4th quarter worth $51,000. Finally, Tsfg LLC purchased a new position in shares of Clearway Energy in the 1st quarter worth $61,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

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.