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

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

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $25.00 to $36.00 in a research report on Wednesday. Roth Mkm raised their target price on Clearway Energy from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. Finally, Evercore ISI upped their price target on Clearway Energy from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearway Energy currently has a consensus rating of “Moderate Buy” and an average price target of $30.83.

Clearway Energy Price Performance

Shares of CWEN traded up $1.27 during midday trading on Thursday, reaching $27.96. The stock had a trading volume of 1,201,186 shares, compared to its average volume of 881,455. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.71 and a quick ratio of 1.65. The company has a market capitalization of $5.65 billion, a P/E ratio of 42.36 and a beta of 0.86. The firm’s 50 day moving average price is $26.05 and its 200-day moving average price is $24.44. Clearway Energy has a 52 week low of $18.59 and a 52 week high of $28.71.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.25. The company had revenue of $263.00 million for the quarter, compared to analysts’ expectations of $286.26 million. Clearway Energy had a net margin of 5.97% and a return on equity of 1.67%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. On average, analysts forecast that Clearway Energy will post 1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearway Energy

Several large investors have recently bought and sold shares of the stock. Scarborough Advisors LLC bought a new position in Clearway Energy during the fourth quarter valued at about $25,000. Mather Group LLC. bought a new position in Clearway Energy in the first quarter worth $37,000. Abich Financial Wealth Management LLC lifted its position in Clearway Energy by 49.8% in the first 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. Avalon Trust Co bought a new stake in Clearway Energy in the 4th quarter valued at $47,000. Finally, Whittier Trust Co. increased 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 valued at $50,000 after buying an additional 512 shares during the period. 38.03% of the stock is currently owned by institutional investors and hedge funds.

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.