Clearway Energy (NYSE:CWEN) Rating Lowered to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Clearway Energy from “sell” to “strong sell,” while Zacks Research also assigned a “strong sell” rating. However, the broader analyst consensus remains “Moderate Buy,” with a $44.00 target price.
• Clearway Energy shares opened at $31.76, below their 50-day and 200-day moving averages, and are up just 0.1%. The company recently reported an adjusted loss of $1.35 per share, missing estimates, despite revenue exceeding expectations.
• Institutional investors and hedge funds own 84.53% of the stock, with several firms increasing their stakes. Clearway operates renewable and conventional power-generation assets supported largely by long-term contracts.

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

CWEN has been the topic of several other reports. Zacks Research downgraded Clearway Energy from a "hold" rating to a "strong sell" rating in a report on Friday, July 10th. Weiss Ratings cut Clearway Energy from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Truist Financial initiated coverage on Clearway Energy in a research report on Monday, July 13th. They issued a "buy" rating and a $43.00 price objective for the company. Morgan Stanley boosted their price objective on Clearway Energy from $56.00 to $60.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 27th. Finally, UBS Group increased their target price on Clearway Energy from $44.00 to $45.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.00.

Clearway Energy Trading Up 0.1%

Shares of Clearway Energy stock opened at $31.76 on Friday. Clearway Energy has a 12-month low of $27.67 and a 12-month high of $41.74. The stock has a market capitalization of $6.52 billion, a P/E ratio of 794.27 and a beta of 0.89. The company has a 50-day simple moving average of $35.89 and a 200 day simple moving average of $37.47. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CWEN. Sanctuary Advisors LLC lifted its holdings in Clearway Energy by 23.6% during the fourth quarter. Sanctuary Advisors LLC now owns 185,449 shares of the company's stock worth $6,168,000 after acquiring an additional 35,468 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in Clearway Energy by 253.6% in the third quarter. Tudor Investment Corp ET AL now owns 152,549 shares of the company's stock valued at $4,310,000 after acquiring an additional 109,404 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Clearway Energy in the fourth quarter worth about $759,000. Corient Private Wealth LLC increased its holdings in shares of Clearway Energy by 156.8% in the fourth quarter. Corient Private Wealth LLC now owns 39,631 shares of the company's stock worth $1,318,000 after acquiring an additional 24,201 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Clearway Energy during the fourth quarter worth about $994,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Company Profile

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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