Clearway Energy (NYSE:CWEN) Upgraded by Wall Street Zen to "Sell" Rating

Key Points

• Wall Street Zen upgraded Clearway Energy from a “strong sell” to a “sell” rating, though the broader analyst view remains more constructive. The stock still carries a consensus rating of Moderate Buy with an average price target of $40.57.
• Clearway Energy reported first-quarter earnings that missed expectations, posting EPS of ($1.35) versus the estimated ($0.45), even as revenue of $354.0 million came in above forecasts. Analysts now expect the company to earn 0.23 EPS for the full year.
• The stock was trading around $38.24, near the middle of its 52-week range of $27.67 to $41.60, and institutional investors continue to hold a large stake. Institutions own 84.53% of Clearway Energy’s shares.

Clearway Energy (NYSE:CWEN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Roth Mkm restated a "buy" rating and set a $45.00 price target (up from $40.00) on shares of Clearway Energy in a report on Tuesday, February 24th. Morgan Stanley restated an "overweight" rating on shares of Clearway Energy in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Clearway Energy in a research note on Thursday, April 9th. UBS Group set a $45.00 target price on shares of Clearway Energy in a research note on Tuesday, February 24th. Finally, Royal Bank Of Canada increased their target price on shares of Clearway Energy from $38.00 to $42.00 and gave the company an "outperform" rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.57.

Clearway Energy Stock Up 0.3%

CWEN stock opened at $38.24 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.13 and a quick ratio of 1.06. Clearway Energy has a 52-week low of $27.67 and a 52-week high of $41.60. The company has a 50-day moving average of $39.08 and a two-hundred day moving average of $36.43. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 956.31, a price-to-earnings-growth ratio of 14.47 and a beta of 0.87.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.90). Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. The firm had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. As a group, equities research analysts anticipate that Clearway Energy will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds have recently made changes to their positions in CWEN. Clearbridge Investments LLC lifted its stake in shares of Clearway Energy by 26.7% in the fourth quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company's stock valued at $154,890,000 after buying an additional 981,488 shares during the period. Wellington Management Group LLP bought a new position in Clearway Energy during the fourth quarter worth about $21,906,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Clearway Energy by 1,116.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company's stock worth $13,757,000 after purchasing an additional 394,579 shares during the period. Capula Management Ltd bought a new position in Clearway Energy during the third quarter worth about $4,646,000. Finally, Pacer Advisors Inc. lifted its stake in Clearway Energy by 20.1% during 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. Institutional investors own 84.53% of the company's stock.

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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