Roth Mkm Reiterates Buy Rating for Clearway Energy (NYSE:CWEN)

Clearway Energy (NYSE:CWEN)‘s stock had its “buy” rating reissued by research analysts at Roth Mkm in a report issued on Tuesday,Benzinga reports. They currently have a $34.00 target price on the stock, up from their previous target price of $33.00. Roth Mkm’s price objective points to a potential upside of 22.50% from the company’s current price.

Separately, StockNews.com upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.86.

Clearway Energy Stock Up 1.4 %

Shares of NYSE CWEN opened at $27.76 on Tuesday. Clearway Energy has a 12 month low of $20.63 and a 12 month high of $30.92. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 1.75 and a beta of 0.88. The business has a 50-day moving average of $26.11 and a 200-day moving average of $27.53.

Clearway Energy (NYSE:CWEN) last released its earnings results on Monday, February 24th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.10). The firm had revenue of $256.00 million during the quarter, compared to the consensus estimate of $299.73 million. Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. Sell-side analysts expect that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the completion of the sale, 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 can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Clearway Energy

Several hedge funds have recently made changes to their positions in the business. Principal Street Partners LLC increased its stake in shares of Clearway Energy by 1.7% during the fourth quarter. Principal Street Partners LLC now owns 210,400 shares of the company’s stock valued at $5,470,000 after buying an additional 3,606 shares during the period. Voloridge Investment Management LLC increased its stake in shares of Clearway Energy by 251.4% during the fourth quarter. Voloridge Investment Management LLC now owns 470,565 shares of the company’s stock valued at $12,235,000 after buying an additional 336,668 shares during the period. Squarepoint Ops LLC increased its stake in shares of Clearway Energy by 88.0% during the fourth quarter. Squarepoint Ops LLC now owns 189,238 shares of the company’s stock valued at $4,920,000 after buying an additional 88,560 shares during the period. Teza Capital Management LLC purchased a new position in shares of Clearway Energy during the fourth quarter valued at approximately $711,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Clearway Energy during the fourth quarter valued at approximately $166,000. 84.53% of the stock is owned by hedge funds and other institutional investors.

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.