Clearway Energy (NYSE:CWEN) Downgraded by TheStreet to D+

TheStreet cut shares of Clearway Energy (NYSE:CWEN) from a c- rating to a d+ rating in a research report report published on Thursday, TheStreetRatingsTable reports.

CWEN has been the topic of a number of other research reports. ValuEngine lowered Clearway Energy from a buy rating to a hold rating in a research note on Tuesday, January 7th. Zacks Investment Research raised Clearway Energy from a hold rating to a buy rating and set a $23.00 price target on the stock in a research note on Thursday, January 16th. Finally, Goldman Sachs Group raised Clearway Energy from a neutral rating to a buy rating and set a $26.00 price target on the stock in a research note on Thursday, March 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $20.50.

NYSE:CWEN traded up $0.58 during trading hours on Thursday, reaching $18.37. 919,559 shares of the company traded hands, compared to its average volume of 1,242,830. The firm’s 50-day moving average is $20.58 and its 200-day moving average is $19.94. The stock has a market cap of $3.54 billion, a P/E ratio of -183.70, a P/E/G ratio of 1.07 and a beta of 1.04. The company has a debt-to-equity ratio of 2.29, a current ratio of 0.30 and a quick ratio of 0.28. Clearway Energy has a 1-year low of $14.77 and a 1-year high of $23.24.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.45). Clearway Energy had a negative return on equity of 0.52% and a negative net margin of 1.07%. The business had revenue of $235.00 million for the quarter, compared to analysts’ expectations of $282.24 million. During the same period in the prior year, the company earned ($0.52) EPS. As a group, research analysts predict that Clearway Energy will post 1.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.21 dividend. This is an increase from Clearway Energy’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 4.57%. The ex-dividend date was Friday, February 28th. Clearway Energy’s dividend payout ratio is currently -840.00%.

In related news, major shareholder Infrastructure Investor Global purchased 60,000 shares of the stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average cost of $19.30 per share, for a total transaction of $1,158,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. acquired a new stake in shares of Clearway Energy during the fourth quarter valued at about $1,948,000. Nomura Holdings Inc. acquired a new stake in shares of Clearway Energy during the third quarter valued at about $291,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Clearway Energy during the fourth quarter valued at about $486,000. Community Capital Management Inc. acquired a new stake in shares of Clearway Energy during the fourth quarter valued at about $399,000. Finally, Baird Financial Group Inc. grew its stake in shares of Clearway Energy by 7.3% during the fourth quarter. Baird Financial Group Inc. now owns 233,760 shares of the company’s stock valued at $4,664,000 after acquiring an additional 15,981 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.

Featured Story: What is a Buy-Side Analyst?

Receive News & Ratings for Clearway Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clearway Energy and related companies with MarketBeat.com's FREE daily email newsletter.