Zacks Investment Research downgraded shares of Clearway Energy (NYSE:CWEN) from a buy rating to a hold rating in a research note released on Thursday.
According to Zacks, “Clearway Energy, Inc. owns, operates and acquires renewable and conventional generation and thermal infrastructure projects. The Company offers natural gas and dual fired, solar and wind generation and distribution services. It serves commercial businesses, universities, hospitals, and government companies. Clearway Energy Inc., formerly known as NRG Yield Inc., is based in NJ, United States. “
CWEN opened at $19.78 on Thursday. Clearway Energy has a one year low of $15.55 and a one year high of $20.75. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 2.29. The company has a market cap of $3.82 billion, a PE ratio of 16.08, a P/E/G ratio of 1.02 and a beta of 2.21.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. NEXT Financial Group Inc acquired a new position in Clearway Energy in the third quarter valued at approximately $186,000. Alpha Windward LLC acquired a new position in Clearway Energy in the third quarter valued at approximately $515,000. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in Clearway Energy in the third quarter valued at approximately $879,000. Institutional investors and hedge funds own 28.97% of the company’s stock.
Clearway Energy Company Profile
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).
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