Clearway Energy (NYSE:CWEN) Rating Increased to Hold at StockNews.com

Clearway Energy (NYSE:CWEN) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities research analysts also recently commented on CWEN. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $25.00 to $36.00 in a research report on Wednesday, July 31st. Jefferies Financial Group began coverage on shares of Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. BNP Paribas began coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. CIBC raised their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. 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 report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and a consensus price target of $33.13.

Clearway Energy Price Performance

Shares of CWEN opened at $28.36 on Friday. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 2.46 and a beta of 0.87. The firm has a 50-day simple moving average of $28.22 and a 200-day simple moving average of $27.35. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The business had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same quarter last year, the company posted $0.03 EPS. Clearway Energy’s quarterly revenue was up 31.0% on a year-over-year basis. On average, equities research analysts anticipate that Clearway Energy will post 0.81 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC raised its holdings in shares of Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after acquiring an additional 625 shares during the last quarter. Whittier Trust Co. increased its position 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 purchasing an additional 512 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Clearway Energy in the 3rd quarter valued at about $50,000. Quarry LP boosted its position in Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after acquiring an additional 843 shares during the last quarter. Finally, Icon Wealth Advisors LLC acquired a new stake in shares of Clearway Energy during the third quarter worth $106,000. 38.03% of the stock is owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

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.