Clearway Energy (NYSE:CWEN) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Clearway Energy (NYSE:CWEN) in a report issued on Friday, Briefing.com reports. The firm set a “buy” rating and a $35.00 price target on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 20.40% from the company’s previous close.

CWEN has been the subject of a number of other research reports. StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 9th. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. Finally, Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.71.

Clearway Energy Stock Down 0.8 %

Shares of CWEN stock opened at $29.07 on Friday. The stock has a 50 day moving average of $27.79 and a 200-day moving average of $25.63. The firm has a market cap of $5.88 billion, a PE ratio of 44.05, a price-to-earnings-growth ratio of 2.24 and a beta of 0.86. The company has a quick ratio of 1.37, a current ratio of 1.46 and a debt-to-equity ratio of 1.19. Clearway Energy has a 12 month low of $18.59 and a 12 month high of $29.94.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The company had revenue of $366.00 million for the quarter, compared to analyst estimates of $424.59 million. During the same period in the prior year, the company posted $0.33 EPS. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. On average, equities analysts predict that Clearway Energy will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Clearway Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC bought a new position in shares of Clearway Energy in the fourth quarter valued at about $533,000. Bank of Nova Scotia increased its holdings in shares of Clearway Energy by 113.4% in the fourth quarter. Bank of Nova Scotia now owns 211,727 shares of the company’s stock valued at $5,808,000 after purchasing an additional 112,496 shares in the last quarter. CIBC Asset Management Inc bought a new position in Clearway Energy in the 4th quarter worth approximately $274,000. First Trust Advisors LP lifted its holdings in Clearway Energy by 4.3% during the 4th quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock worth $25,032,000 after buying an additional 38,032 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its position in Clearway Energy by 31.8% in the 4th quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock valued at $9,202,000 after buying an additional 80,962 shares during the last quarter. 38.03% of the stock is currently 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.