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

StockNews.com lowered shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a report published on Thursday.

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

Clearway Energy Stock Performance

Shares of CWEN stock opened at $27.56 on Thursday. The stock’s 50-day moving average is $28.23 and its two-hundred day moving average is $27.27. 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 1 year low of $20.63 and a 1 year high of $30.92. The firm 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.

Clearway Energy (NYSE:CWEN) last released 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). The firm had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the firm earned $0.03 EPS. Analysts predict that Clearway Energy will post 0.81 earnings per share for the current year.

Clearway Energy Increases Dividend

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

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. purchased a new position in shares of Clearway Energy in the 1st quarter valued at about $1,010,000. MQS Management LLC purchased a new position in Clearway Energy in the first quarter valued at about $228,000. Silvercrest Asset Management Group LLC lifted its position in shares of Clearway Energy by 2.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 63,219 shares of the company’s stock valued at $1,457,000 after acquiring an additional 1,658 shares during the period. Apollo Management Holdings L.P. boosted its stake in shares of Clearway Energy by 38.4% during the 1st quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock worth $37,924,000 after acquiring an additional 456,197 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its stake in Clearway Energy by 3.7% in the 1st quarter. BROOKFIELD Corp ON now owns 182,316 shares of the company’s stock valued at $4,202,000 after purchasing an additional 6,520 shares in the last quarter. Institutional investors and hedge funds own 38.03% of the company’s stock.

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.