Clearway Energy (NYSE:CWEN) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Clearway Energy (NYSE:CWEN) from a "sell" to a strong sell in a research note issued Saturday.
• The company posted an earnings miss, reporting ($0.89) EPS vs. a ($0.21) consensus and revenue of $310.0M versus $334.42M expected.
• Despite the downgrade, the MarketBeat consensus remains a Moderate Buy with an average target of $40.57, and institutions own about 84.53% of the shares.

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

Several other research firms have also recently weighed in on CWEN. Weiss Ratings reissued a "hold (c)" rating on shares of Clearway Energy in a research report on Monday. UBS Group set a $45.00 price objective on Clearway Energy in a research report on Tuesday, February 24th. Roth Mkm reissued a "buy" rating and issued a $45.00 price objective (up from $40.00) on shares of Clearway Energy in a research report on Tuesday, February 24th. Morgan Stanley reissued an "overweight" rating on shares of Clearway Energy in a research report on Tuesday, April 14th. Finally, Zacks Research cut Clearway Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.57.

Clearway Energy Stock Down 0.2%

CWEN opened at $39.63 on Friday. Clearway Energy has a 1-year low of $27.67 and a 1-year high of $41.51. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $8.13 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 15.06 and a beta of 0.91. The business has a 50 day moving average of $39.15 and a 200-day moving average of $35.99.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.68). Clearway Energy had a net margin of 11.83% and a return on equity of 3.01%. The business had revenue of $310.00 million during the quarter, compared to the consensus estimate of $334.42 million. During the same period in the prior year, the company posted ($0.41) earnings per share. As a group, sell-side analysts anticipate that Clearway Energy will post 0.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Clearbridge Investments LLC lifted its position in Clearway Energy by 26.7% in the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company's stock worth $154,890,000 after purchasing an additional 981,488 shares during the period. Pacer Advisors Inc. lifted its position in Clearway Energy by 20.1% in the fourth quarter. Pacer Advisors Inc. now owns 837,006 shares of the company's stock worth $27,839,000 after purchasing an additional 140,006 shares during the period. RWC Asset Management LLP lifted its position in Clearway Energy by 12.2% in the third quarter. RWC Asset Management LLP now owns 745,537 shares of the company's stock worth $21,061,000 after purchasing an additional 81,349 shares during the period. Wellington Management Group LLP bought a new position in Clearway Energy in the fourth quarter worth $21,906,000. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in Clearway Energy by 8.8% in the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company's stock worth $17,656,000 after purchasing an additional 50,344 shares during the period. 84.53% of the stock is owned by institutional investors.

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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