Clearway Energy (NYSE:CWEN) Rating Increased to Sell at Wall Street Zen

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

Several other analysts also recently issued reports on CWEN. Weiss Ratings raised shares of Clearway Energy from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Thursday. Truist Financial started coverage on Clearway Energy in a research note on Monday, July 13th. They set a “buy” rating and a $43.00 target price on the stock. Canadian Imperial Bank of Commerce set a $42.00 price target on Clearway Energy in a report on Friday, July 17th. Morgan Stanley boosted their price objective on Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, May 27th. Finally, UBS Group boosted their price objective on Clearway Energy from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Clearway Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Clearway Energy Trading Up 0.2%

Shares of CWEN opened at $32.70 on Friday. The company’s fifty day simple moving average is $35.07 and its 200-day simple moving average is $37.41. The company has a market cap of $6.71 billion, a P/E ratio of 43.03 and a beta of 0.89. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. Clearway Energy has a twelve month low of $27.67 and a twelve month high of $41.74.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.76. The firm had revenue of $481.00 million during the quarter, compared to analysts’ expectations of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. As a group, analysts expect that Clearway Energy will post -0.76 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Tuesday, September 1st. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.47. Clearway Energy’s dividend payout ratio (DPR) is 246.05%.

Hedge Funds Weigh In On Clearway Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in shares of Clearway Energy by 280.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after acquiring an additional 705 shares during the period. National Bank of Canada FI boosted its holdings in shares of Clearway Energy by 201.9% in the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares during the period. Huntington National Bank boosted its holdings in shares of Clearway Energy by 92.4% in the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after purchasing an additional 412 shares during the period. Allied Private Wealth LLC bought a new position in Clearway Energy in the second quarter worth approximately $35,000. Finally, Geneos Wealth Management Inc. grew its stake in Clearway Energy by 94.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after purchasing an additional 600 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

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.