Clearway Energy (NYSE:CWEN) Cut to Sell at StockNews.com

StockNews.com lowered shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.

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

Clearway Energy Stock Performance

Shares of Clearway Energy stock opened at $27.56 on Thursday. The business’s 50 day moving average price is $28.23 and its 200 day moving average price is $27.27. The company has a market cap of $5.57 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.38 and a beta of 0.87. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. Clearway Energy has a one year low of $20.63 and a one year high of $30.92.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The firm’s revenue was up 31.0% on a year-over-year basis. On average, research analysts predict that Clearway Energy will post 0.81 EPS for the current year.

Clearway Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.424 per share. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 6.15%. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy’s dividend payout ratio is presently 160.58%.

Hedge Funds Weigh In On Clearway Energy

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

Clearway Energy Company Profile

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.