Clearway Energy (NYSE:CWEN) Downgraded by StockNews.com to Sell

Clearway Energy (NYSE:CWEN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

CWEN has been the topic of a number of other reports. BNP Paribas initiated coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price on the stock. Roth Mkm reiterated a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Jefferies Financial Group assumed coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, CIBC increased their price target on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. 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 stock. Based on data from MarketBeat, Clearway Energy presently has an average rating of “Moderate Buy” and an average price target of $33.13.

Clearway Energy Stock Performance

Shares of CWEN opened at $29.50 on Friday. The company’s fifty day moving average is $28.21 and its 200-day moving average is $27.48. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 1.41 and a beta of 0.87. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last announced 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 business had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same quarter last year, the company earned $0.03 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities analysts expect that Clearway Energy will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearway Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC lifted its holdings in Clearway Energy by 74.5% during the 1st quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after purchasing an additional 22,059 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Clearway Energy by 12.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 38,400 shares of the company’s stock valued at $885,000 after purchasing an additional 4,100 shares during the last quarter. Fulton Bank N.A. lifted its holdings in Clearway Energy by 12.9% during the 2nd quarter. Fulton Bank N.A. now owns 11,757 shares of the company’s stock valued at $290,000 after purchasing an additional 1,347 shares during the last quarter. Friedenthal Financial bought a new position in Clearway Energy during the 2nd quarter valued at about $712,000. Finally, Monetary Management Group Inc. lifted its holdings in Clearway Energy by 228.6% during the 2nd quarter. Monetary Management Group Inc. now owns 13,800 shares of the company’s stock valued at $341,000 after purchasing an additional 9,600 shares during the last quarter. 38.03% of the stock is 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.