Clearway Energy (NYSE:CWEN) Stock Dropped to Sell by Wall Street Zen

Wall Street Zen lowered shares of Clearway Energy (NYSE:CWEN) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Several other analysts also recently commented on the stock. Truist Financial upped their price objective on shares of Clearway Energy from $40.00 to $42.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings lowered shares of Clearway Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday. Jefferies Financial Group reissued a “buy” rating and set a $38.00 target price on shares of Clearway Energy in a report on Friday, September 4th. Seaport Research Partners reduced their target price on shares of Clearway Energy from $41.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Finally, Zacks Research upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Clearway Energy presently has an average rating of “Buy” and an average price target of $42.22.

Clearway Energy Stock Performance

Shares of Clearway Energy stock traded up $0.07 on Friday, reaching $33.45. 845,272 shares of the stock were exchanged, compared to its average volume of 1,547,874. The business has a 50 day moving average price of $31.37 and a two-hundred day moving average price of $35.49. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of -40.79 and a beta of 0.81. Clearway Energy has a twelve month low of $28.57 and a twelve month high of $41.74. The company has a quick ratio of 1.02, a current ratio of 1.47 and a debt-to-equity ratio of 1.58.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Monday, November 9th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.41). Clearway Energy had a negative return on equity of 1.66% and a negative net margin of 5.64%. The business had revenue of $522.00 million during the quarter, compared to analyst estimates of $513.11 million. Analysts anticipate that Clearway Energy will post -0.42 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.4824 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This is a boost from Clearway Energy’s previous quarterly dividend of $0.4750. This represents a $1.93 dividend on an annualized basis and a yield of 5.8%. Clearway Energy’s dividend payout ratio is presently -231.71%.

Hedge Funds Weigh In On Clearway Energy

Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in shares of Clearway Energy by 0.9% in the 1st quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock valued at $33,169,000 after purchasing an additional 7,215 shares during the period. Allspring Global Investments Holdings LLC grew its position in Clearway Energy by 1,928.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 589,009 shares of the company’s stock valued at $17,164,000 after buying an additional 559,972 shares during the period. Tectonic Advisors LLC grew its position in Clearway Energy by 12.8% during the third quarter. Tectonic Advisors LLC now owns 567,137 shares of the company’s stock valued at $16,600,000 after buying an additional 64,439 shares during the period. Aberdeen Group plc increased its holdings in Clearway Energy by 1.3% in the third quarter. Aberdeen Group plc now owns 517,395 shares of the company’s stock valued at $15,144,000 after buying an additional 6,600 shares in the last quarter. Finally, RWC Asset Management LLP increased its holdings in Clearway Energy by 1.9% in the third quarter. RWC Asset Management LLP now owns 512,440 shares of the company’s stock valued at $14,999,000 after buying an additional 9,660 shares in the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

Clearway Energy, Inc. owns and operates electricity-generation facilities in the United States. Its portfolio includes renewable energy assets, primarily wind and solar, as well as energy storage and conventional power-generation and thermal infrastructure. The company sells electricity and related services to utilities and other customers, often through long-term contractual arrangements. Its facilities are located across multiple U.S. regions. Clearway Energy was formerly known as NRG Yield, Inc. and adopted its current name in 2018.