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

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

Several other brokerages have also issued reports on CWEN. CIBC raised their target price on Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. BNP Paribas assumed coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.57.

Clearway Energy Stock Up 1.8 %

Shares of NYSE CWEN opened at $25.99 on Wednesday. The company has a 50 day simple moving average of $26.78 and a 200 day simple moving average of $27.55. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy has a 1 year low of $20.63 and a 1 year high of $30.92. The firm has a market cap of $5.25 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88.

Clearway Energy (NYSE:CWEN) last released its quarterly 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 business had revenue of $486.00 million for the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. Clearway Energy’s revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. On average, research analysts forecast that Clearway Energy will post 0.82 EPS for the current year.

Insider Transactions at Clearway Energy

In related news, Director Brian R. Ford sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now directly owns 8,153 shares of the company’s stock, valued at $218,011.22. This represents a 19.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Clearway Energy

Several institutional investors have recently made changes to their positions in CWEN. Ashton Thomas Securities LLC bought a new position in shares of Clearway Energy in the 3rd quarter worth $50,000. Wilmington Savings Fund Society FSB acquired a new position in Clearway Energy during the third quarter worth $71,000. Quarry LP lifted its stake in shares of Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after buying an additional 843 shares in the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of Clearway Energy during the third quarter valued at about $106,000. Finally, Recurrent Investment Advisors LLC bought a new stake in shares of Clearway Energy during the third quarter worth about $202,000. 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.