Clearway Energy (NYSE:CWEN) Stock Rating Lowered by Wall Street Zen

by · The Markets Daily

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

A number of other analysts have also commented on CWEN. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Clearway Energy in a report on Thursday, April 9th. Zacks Research downgraded Clearway Energy from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Weiss Ratings lowered Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Truist Financial initiated 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. Finally, Morgan Stanley boosted their price target on shares of Clearway Energy from $56.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

View Our Latest Stock Analysis on CWEN

Clearway Energy Trading Up 0.1%

NYSE:CWEN opened at $31.76 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of 794.27 and a beta of 0.89. Clearway Energy has a 52 week low of $27.67 and a 52 week high of $41.74. The firm has a 50-day moving average price of $35.89 and a two-hundred day moving average price of $37.51.

Clearway Energy (NYSE:CWEN – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). The business had revenue of $354.00 million during the quarter, compared to analysts’ expectations of $340.75 million. Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%. On average, equities analysts expect that Clearway Energy will post -1.03 earnings per share for the current fiscal year.

Institutional Trading of Clearway Energy

Hedge funds have recently made changes to their positions in the company. Huntington National Bank lifted its position in shares of Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 412 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Clearway Energy by 280.9% in the 3rd 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 last quarter. National Bank of Canada FI increased its holdings in Clearway Energy by 201.9% in the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after acquiring an additional 652 shares during the last quarter. Allied Private Wealth LLC bought a new stake in Clearway Energy in the 2nd quarter valued at about $35,000. Finally, Geneos Wealth Management Inc. raised its stake in Clearway Energy by 94.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after acquiring an additional 600 shares during the period. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Company Profile

(Get Free Report)

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.

Recommended Stories