Clearway Energy (NYSE:CWEN) Rating Lowered to "Sell" at StockNews.com

StockNews.com lowered shares of Clearway Energy (NYSE:CWEN - Free Report) from a hold rating to a sell rating in a research report released on Saturday.

Several other equities analysts have also recently commented on CWEN. CIBC upped their price target on Clearway Energy from $33.00 to $34.00 and gave the company an "outperformer" rating in a report on Tuesday, October 22nd. BNP Paribas initiated coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $36.00 target price for the company. Jefferies Financial Group started coverage on shares of Clearway Energy in a research note on Friday, September 20th. They set a "buy" rating and a $35.00 price target on the stock. Finally, Roth Mkm restated a "buy" rating and issued a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.13.

Clearway Energy Stock Performance

NYSE:CWEN traded down $0.01 during mid-day trading on Friday, hitting $29.49. 547,704 shares of the company's stock traded hands, compared to its average volume of 866,879. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The firm has a 50 day moving average of $28.21 and a two-hundred day moving average of $27.50. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.87. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). The company had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company's revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. On average, equities analysts forecast that Clearway Energy will post 0.78 earnings per share for the current fiscal year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.424 per share. This is an increase from Clearway Energy's previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 5.75%. The ex-dividend date is Monday, December 2nd. Clearway Energy's dividend payout ratio (DPR) is currently 162.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CWEN. Whittier Trust Co. grew its holdings in Clearway Energy by 33.8% during the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company's stock worth $50,000 after acquiring an additional 512 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Clearway Energy during the third quarter worth approximately $50,000. Quarry LP grew its stake in shares of Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company's stock valued at $60,000 after purchasing an additional 843 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Clearway Energy in the third quarter valued at approximately $71,000. Finally, Icon Wealth Advisors LLC bought a new position in Clearway Energy in the 3rd quarter worth approximately $106,000. 38.03% of the stock is owned by institutional investors and hedge funds.

About Clearway Energy

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.