Clearway Energy (NYSE:CWEN) Lowered to “Sell” Rating by StockNews.com

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

CWEN has been the topic of several other reports. BNP Paribas started coverage on 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 target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company 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 from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Finally, Jefferies Financial Group started coverage on Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.13.

Clearway Energy Stock Performance

Clearway Energy stock opened at $27.56 on Thursday. The stock’s 50 day moving average price is $28.23 and its 200 day moving average price is $27.30. The firm has a market capitalization of $5.57 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.44 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 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 company 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 business’s revenue was up 31.0% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share. As a group, sell-side analysts expect that Clearway Energy will post 0.81 EPS for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.424 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 6.15%. This is an increase from Clearway Energy’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, December 2nd. Clearway Energy’s payout ratio is 162.50%.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors have recently made changes to their positions in the company. Fulton Bank N.A. increased its holdings in shares of Clearway Energy by 3.8% in the 3rd quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock valued at $374,000 after acquiring an additional 449 shares during the last quarter. Whittier Trust Co. grew its stake in Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after buying an additional 512 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Clearway Energy by 5.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock worth $302,000 after buying an additional 654 shares during the last quarter. Finally, Congress Asset Management Co. grew its stake in Clearway Energy by 0.4% during the 3rd quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock worth $5,806,000 after buying an additional 699 shares during the last quarter. 38.03% of the stock is currently owned by institutional investors.

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.