Clearway Energy (NYSE:CWEN) Stock Rating Lowered by StockNews.com

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

A number of other equities analysts have also recently weighed in on the company. CIBC increased their price target on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a report on Tuesday, October 22nd. Jefferies Financial Group started coverage on Clearway Energy in a research report on Friday, September 20th. They set a “buy” rating and a $35.00 target price on the stock. BNP Paribas began coverage on Clearway Energy in a research note on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. Morgan Stanley raised Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, Roth Mkm reiterated a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and an average price target of $33.13.

Clearway Energy Price Performance

CWEN stock traded up $0.42 during midday trading on Thursday, reaching $27.37. The company had a trading volume of 708,360 shares, compared to its average volume of 873,337. Clearway Energy has a 1 year low of $20.63 and a 1 year high of $30.92. The company has a market capitalization of $5.53 billion, a P/E ratio of 26.32, a P/E/G ratio of 2.36 and a beta of 0.87. The firm has a 50-day moving average price of $28.23 and a 200-day moving average price of $27.21. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49.

Clearway Energy (NYSE:CWEN) last released its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The firm had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Clearway Energy’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. On average, research analysts anticipate that Clearway Energy will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Clearway Energy

Large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Clearway Energy in the 3rd quarter valued at about $50,000. Abich Financial Wealth Management LLC raised its holdings in Clearway Energy by 49.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after purchasing an additional 625 shares during the period. Whittier Trust Co. raised its holdings in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after purchasing an additional 512 shares during the period. Quarry LP grew its position in shares of Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after purchasing an additional 843 shares in the last quarter. Finally, Icon Wealth Advisors LLC purchased a new position in Clearway Energy in the third quarter worth about $106,000. 38.03% of the stock is owned by hedge funds and other institutional investors.

About Clearway Energy

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.