Clearway Energy (NYSE:CWEN) Lowered to Hold Rating by Cibc World Mkts

Clearway Energy (NYSE:CWEN - Get Free Report) was downgraded by stock analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. CIBC cut shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price on the stock. in a report on Saturday, July 19th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They set a "buy" rating and a $38.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $36.33.

Clearway Energy Trading Down 1.5%

Shares of NYSE CWEN traded down $0.48 during mid-day trading on Monday, hitting $31.90. The stock had a trading volume of 480,749 shares, compared to its average volume of 925,246. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.42 and a current ratio of 1.52. Clearway Energy has a 1 year low of $24.40 and a 1 year high of $33.22. The business has a 50 day moving average price of $31.44 and a two-hundred day moving average price of $29.00. The firm has a market cap of $6.45 billion, a P/E ratio of 39.86, a price-to-earnings-growth ratio of 0.84 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.25) by $0.28. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The company had revenue of $298.00 million for the quarter, compared to the consensus estimate of $305.74 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts anticipate that Clearway Energy will post 0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Clearway Energy

A number of hedge funds have recently bought and sold shares of the business. Prudent Man Advisors LLC raised its position in Clearway Energy by 2.0% in the 1st quarter. Prudent Man Advisors LLC now owns 26,219 shares of the company's stock worth $794,000 after buying an additional 516 shares during the last quarter. Uniplan Investment Counsel Inc. raised its position in Clearway Energy by 0.9% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 65,506 shares of the company's stock worth $1,703,000 after buying an additional 586 shares during the last quarter. Monetary Management Group Inc. raised its position in Clearway Energy by 4.3% in the 1st quarter. Monetary Management Group Inc. now owns 14,400 shares of the company's stock worth $436,000 after buying an additional 600 shares during the last quarter. Abundance Wealth Counselors raised its position in Clearway Energy by 1.6% in the 2nd quarter. Abundance Wealth Counselors now owns 39,158 shares of the company's stock worth $1,253,000 after buying an additional 624 shares during the last quarter. Finally, WBI Investments LLC raised its position in Clearway Energy by 5.0% in the 1st quarter. WBI Investments LLC now owns 17,544 shares of the company's stock worth $531,000 after buying an additional 834 shares during the last quarter. Hedge funds and other institutional investors own 84.53% of the company's stock.

Clearway Energy Company Profile

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.