Wall Street Zen Downgrades Clearway Energy (NYSE:CWEN) to Strong Sell

Clearway Energy (NYSE:CWEN) was downgraded by stock analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

A number of other equities research analysts also recently issued reports on the company. Royal Bank Of Canada increased their price target on 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 reissued a “hold (c)” rating on shares of Clearway Energy in a research report on Monday, April 20th. UBS Group set a $45.00 price target on Clearway Energy in a research report on Tuesday, February 24th. Roth Mkm reissued a “buy” rating and set a $45.00 price target (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Clearway Energy in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Clearway Energy presently has an average rating of “Moderate Buy” and an average target price of $40.57.

Clearway Energy Trading Up 0.1%

Shares of NYSE:CWEN opened at $39.63 on Friday. The company has a market capitalization of $8.13 billion, a P/E ratio of 27.91, a P/E/G ratio of 15.02 and a beta of 0.91. Clearway Energy has a 1 year low of $27.67 and a 1 year high of $41.51. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.13 and a quick ratio of 1.06. The business’s 50 day simple moving average is $39.15 and its 200 day simple moving average is $36.05.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Monday, February 23rd. The company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.68). The company had revenue of $310.00 million for the quarter, compared to analyst estimates of $334.42 million. Clearway Energy had a return on equity of 3.01% and a net margin of 11.83%.During the same period in the prior year, the company earned ($0.41) EPS. On average, research analysts anticipate that Clearway Energy will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds have recently modified their holdings of CWEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Clearway Energy by 12.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,333 shares of the company’s stock valued at $1,070,000 after acquiring an additional 3,787 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Clearway Energy during the 2nd quarter valued at $215,000. Cerity Partners LLC boosted its holdings in shares of Clearway Energy by 1.8% during the 2nd quarter. Cerity Partners LLC now owns 68,489 shares of the company’s stock valued at $2,192,000 after acquiring an additional 1,180 shares in the last quarter. Brevan Howard Capital Management LP boosted its holdings in shares of Clearway Energy by 233.7% during the 2nd quarter. Brevan Howard Capital Management LP now owns 45,896 shares of the company’s stock valued at $1,469,000 after acquiring an additional 32,144 shares in the last quarter. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Clearway Energy during the 2nd quarter valued at $2,352,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

About Clearway Energy

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.