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 issued to investors on Thursday morning.

Several other analysts also recently weighed in on the company. CIBC lifted their price objective on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. BNP Paribas started coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target for the company. Roth Mkm reiterated a “buy” rating and set a $32.00 price objective (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, Jefferies Financial Group started coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Trading Up 0.2 %

Shares of Clearway Energy stock traded up $0.05 on Thursday, reaching $27.41. The company had a trading volume of 238,613 shares, compared to its average volume of 870,429. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 26.32, a P/E/G ratio of 2.38 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. The firm’s 50-day moving average price is $28.23 and its two-hundred day moving average price is $27.21. Clearway Energy has a 1 year low of $20.63 and a 1 year high of $30.92.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The firm had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy’s revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. As a group, research analysts predict that Clearway Energy will post 0.81 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.424 per share. This represents a $1.70 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. Clearway Energy’s dividend payout ratio is 160.58%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Abich Financial Wealth Management LLC increased its holdings in shares of Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after purchasing an additional 625 shares during the last quarter. Whittier Trust Co. grew its holdings in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after buying an additional 512 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Clearway Energy in the 3rd quarter worth $50,000. Quarry LP raised its holdings in shares of Clearway Energy by 53.4% during the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after acquiring an additional 843 shares during the period. Finally, Icon Wealth Advisors LLC acquired a new position in shares of Clearway Energy during the 3rd quarter valued at about $106,000. 38.03% of the stock is owned by institutional investors and hedge funds.

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.