Clearway Energy (NYSE:CWEN) Upgraded by Wall Street Zen to Sell Rating

Wall Street Zen upgraded shares of Clearway Energy (NYSE:CWEN) from a strong sell rating to a sell rating in a report issued on Saturday.

CWEN has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Clearway Energy in a research note on Thursday, April 9th. Royal Bank Of Canada increased their target price on shares of Clearway Energy from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a research report on Monday, April 20th. Roth Mkm restated a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. Finally, Zacks Research lowered shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.57.

Clearway Energy Stock Up 0.3%

Shares of CWEN opened at $38.24 on Friday. Clearway Energy has a 52 week low of $27.67 and a 52 week high of $41.60. The firm has a market cap of $7.85 billion, a P/E ratio of 956.31, a price-to-earnings-growth ratio of 14.48 and a beta of 0.87. The firm’s 50-day simple moving average is $39.08 and its 200 day simple moving average is $36.43. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.06 and a current ratio of 1.13.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The company had revenue of $354.00 million during the quarter, compared to analyst estimates of $340.75 million. On average, analysts forecast that Clearway Energy will post 0.23 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.4676 per share. The ex-dividend date is Monday, June 1st. This represents a $1.87 annualized dividend and a dividend yield of 4.9%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.46. Clearway Energy’s dividend payout ratio (DPR) is 129.58%.

Institutional Trading of Clearway Energy

Several large investors have recently made changes to their positions in the company. Simon Quick Advisors LLC boosted its position in shares of Clearway Energy by 86.7% during the 1st quarter. Simon Quick Advisors LLC now owns 15,000 shares of the company’s stock worth $589,000 after acquiring an additional 6,966 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Clearway Energy by 31.3% during the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock worth $9,571,000 after acquiring an additional 58,138 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Clearway Energy during the 1st quarter worth approximately $239,000. Kestra Advisory Services LLC boosted its position in shares of Clearway Energy by 76.9% during the 1st quarter. Kestra Advisory Services LLC now owns 7,299 shares of the company’s stock worth $287,000 after acquiring an additional 3,172 shares in the last quarter. Finally, Capstone Capital Management Ltd acquired a new stake in shares of Clearway Energy during the 1st quarter worth approximately $204,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.