Clearway Energy (NYSE:CWEN) Downgraded by Wall Street Zen to Sell

Key Points

• Wall Street Zen cut Clearway Energy from “hold” to “sell.” Despite the downgrade, analyst sentiment overall remains “Buy,” with a consensus price target of $42.22.
• Clearway reported quarterly EPS of $0.42, missing the consensus estimate of $0.83, while revenue of $522 million topped estimates of $513.11 million.
• Shares opened at $33.45, below the 200-day moving average of $35.49; the stock’s 52-week range is $28.57 to $41.74.

Clearway Energy (NYSE:CWEN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on CWEN. Canadian Imperial Bank of Commerce set a $42.00 price objective on Clearway Energy in a research note on Friday, July 17th. Evercore reaffirmed a "positive" rating and set a $40.00 target price on shares of Clearway Energy in a report on Monday, August 17th. Morgan Stanley dropped their target price on Clearway Energy from $58.00 to $52.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 21st. UBS Group dropped their target price on Clearway Energy from $45.00 to $38.00 and set a "buy" rating on the stock in a research report on Wednesday, October 21st. Finally, Truist Financial increased their price target on shares of Clearway Energy from $40.00 to $42.00 and gave the stock a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Clearway Energy currently has an average rating of "Buy" and a consensus price target of $42.22.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $33.45 on Friday. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of -40.79 and a beta of 0.81. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.47 and a quick ratio of 1.02. The business has a fifty day moving average of $31.37 and a 200 day moving average of $35.49. Clearway Energy has a 1 year low of $28.57 and a 1 year high of $41.74.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.41). The firm had revenue of $522.00 million for the quarter, compared to analyst estimates of $513.11 million. Clearway Energy had a negative return on equity of 1.66% and a negative net margin of 5.64%. As a group, research analysts expect that Clearway Energy will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWEN. Global Retirement Partners LLC lifted its holdings in shares of Clearway Energy by 34.2% in the 3rd quarter. Global Retirement Partners LLC now owns 1,139 shares of the company's stock valued at $33,000 after buying an additional 290 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Clearway Energy by 590.5% in the third quarter. Fortitude Family Office LLC now owns 1,160 shares of the company's stock worth $34,000 after buying an additional 992 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in shares of Clearway Energy in the second quarter worth about $35,000. Covestor Ltd boosted its stake in shares of Clearway Energy by 79.6% in the third quarter. Covestor Ltd now owns 1,345 shares of the company's stock worth $39,000 after buying an additional 596 shares during the last quarter. Finally, Salomon & Ludwin LLC grew its holdings in Clearway Energy by 49.2% during the third quarter. Salomon & Ludwin LLC now owns 1,408 shares of the company's stock worth $41,000 after acquiring an additional 464 shares during the period. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Company Profile

Clearway Energy, Inc. owns and operates electricity-generation facilities in the United States. Its portfolio includes renewable energy assets, primarily wind and solar, as well as energy storage and conventional power-generation and thermal infrastructure. The company sells electricity and related services to utilities and other customers, often through long-term contractual arrangements. Its facilities are located across multiple U.S. regions. Clearway Energy was formerly known as NRG Yield, Inc. and adopted its current name in 2018.

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