Shares of Clearway Energy, Inc. (NYSE:CWEN – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $32.57.
CWEN has been the topic of several analyst reports. BNP Paribas assumed coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price target on the stock. CIBC lifted their target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded Clearway Energy from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th.
View Our Latest Stock Report on CWEN
Clearway Energy Price Performance
Clearway Energy (NYSE:CWEN – Get Free Report) last issued its earnings results 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 analysts’ expectations of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. Equities research analysts anticipate that Clearway Energy will post 0.82 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares in the company, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Clearway Energy
Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. increased its stake in shares of Clearway Energy by 726.3% during the second quarter. American Century Companies Inc. now owns 171,321 shares of the company’s stock worth $4,230,000 after buying an additional 150,588 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Clearway Energy by 5.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,240 shares of the company’s stock worth $302,000 after acquiring an additional 654 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Clearway Energy by 10.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 23,223 shares of the company’s stock valued at $573,000 after purchasing an additional 2,173 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Clearway Energy in the 2nd quarter valued at $2,494,000. Finally, Pacer Advisors Inc. lifted its position in shares of Clearway Energy by 146.4% during the 2nd quarter. Pacer Advisors Inc. now owns 56,604 shares of the company’s stock worth $1,398,000 after purchasing an additional 33,633 shares during the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.
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.
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