Clearway Energy (NYSE:CWEN) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Clearway Energy from “strong sell” to “sell,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $44.
• Clearway Energy shares opened at $32.70, below their 50-day and 200-day moving averages, with a market capitalization of $6.71 billion and a 12-month trading range of $27.67 to $41.74.
• The company reported quarterly EPS of $1.00, significantly exceeding the $0.24 consensus estimate, and revenue of $481 million versus expectations of $473.92 million. Institutional investors own approximately 84.5% of its stock.

Clearway Energy (NYSE:CWEN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Sunday.

Other equities research analysts have also issued research reports about the company. Zacks Research lowered Clearway Energy from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. 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 research report on Wednesday, May 27th. Canadian Imperial Bank of Commerce set a $42.00 price objective on Clearway Energy in a research report on Friday, July 17th. UBS Group raised their target price on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Finally, Truist Financial initiated coverage on Clearway Energy in a research note on Monday, July 13th. They set a "buy" rating and a $43.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $44.00.

Clearway Energy Stock Performance

Shares of NYSE CWEN opened at $32.70 on Friday. Clearway Energy has a 12-month low of $27.67 and a 12-month high of $41.74. The firm has a 50 day moving average of $35.07 and a 200 day moving average of $37.40. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 43.03 and a beta of 0.89.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.24 by $0.76. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%.The firm had revenue of $481.00 million during the quarter, compared to analyst estimates of $473.92 million. On average, research analysts anticipate that Clearway Energy will post -0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fulton Bank N.A. increased its position in shares of Clearway Energy by 8.4% during the second quarter. Fulton Bank N.A. now owns 15,563 shares of the company's stock worth $532,000 after purchasing an additional 1,200 shares in the last quarter. Allied Private Wealth LLC acquired a new position in Clearway Energy during the second quarter valued at $35,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Clearway Energy by 11.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 97,367 shares of the company's stock valued at $3,328,000 after buying an additional 10,197 shares during the period. Eastern Bank acquired a new stake in shares of Clearway Energy during the 2nd quarter worth approximately $57,000. Finally, Pacer Advisors Inc. increased its holdings in Clearway Energy by 0.9% in the first quarter. Pacer Advisors Inc. now owns 844,221 shares of the company's stock valued at $33,169,000 after buying an additional 7,215 shares in the last quarter. Institutional investors own 84.53% of the company's stock.

About Clearway Energy

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.

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