StockNews.com Upgrades Clearway Energy (NYSE:CWEN) to Hold

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 analysts also recently issued reports on the stock. Morgan Stanley upgraded shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. CIBC raised their target price on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research note on Tuesday, October 22nd. Roth Mkm reaffirmed a “buy” rating and issued a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Jefferies Financial Group started coverage on Clearway Energy in a report on Friday, September 20th. They set a “buy” rating and a $35.00 price target for the company. Finally, BNP Paribas started coverage on shares of Clearway Energy in a report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.13.

Clearway Energy Stock Performance

NYSE CWEN opened at $28.35 on Friday. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The firm has a market capitalization of $5.73 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 2.51 and a beta of 0.87. The stock’s fifty day moving average is $28.21 and its two-hundred day moving average is $27.38. 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 quarterly 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 net margin of 8.94% and a return on equity of 2.28%. The firm had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same period in the previous year, the firm posted $0.03 EPS. The company’s revenue was up 31.0% compared to the same quarter last year. On average, research analysts anticipate that Clearway Energy will post 0.81 earnings per share for the current year.

Institutional Trading of Clearway Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CWEN. Sei Investments Co. acquired a new position in shares of Clearway Energy in the first quarter valued at approximately $1,010,000. Silvercrest Asset Management Group LLC grew its stake in shares of Clearway Energy by 2.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 63,219 shares of the company’s stock worth $1,457,000 after acquiring an additional 1,658 shares in the last quarter. Apollo Management Holdings L.P. increased its position in shares of Clearway Energy by 38.4% during the first quarter. Apollo Management Holdings L.P. now owns 1,645,296 shares of the company’s stock worth $37,924,000 after acquiring an additional 456,197 shares during the period. BROOKFIELD Corp ON raised its stake in shares of Clearway Energy by 3.7% in the first quarter. BROOKFIELD Corp ON now owns 182,316 shares of the company’s stock valued at $4,202,000 after acquiring an additional 6,520 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in Clearway Energy by 74.5% in the first quarter. Tidal Investments LLC now owns 51,660 shares of the company’s stock valued at $1,191,000 after purchasing an additional 22,059 shares during the period. 38.03% of the stock is currently 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.