Clearway Energy (NYSE:CWEN) Upgraded at Zacks Research

by · The Cerbat Gem

Clearway Energy (NYSE:CWEN – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Other research analysts also recently issued research reports about the stock. Canadian Imperial Bank of Commerce set a $42.00 price objective on shares of Clearway Energy in a report on Friday, July 17th. Weiss Ratings lowered Clearway Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Morgan Stanley lowered their price objective on shares of Clearway Energy from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 18th. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Evercore restated a “positive” rating and set a $40.00 price target on shares of Clearway Energy in a research note on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $43.44.

Read Our Latest Analysis on CWEN

Clearway Energy Price Performance

Shares of CWEN opened at $30.23 on Monday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11. Clearway Energy has a 52-week low of $28.57 and a 52-week high of $41.74. The business’s 50 day moving average price is $31.16 and its two-hundred day moving average price is $34.83. The firm has a market cap of $6.21 billion, a PE ratio of 39.78 and a beta of 0.88.

Clearway Energy (NYSE:CWEN – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.76. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. The business had revenue of $481.00 million for the quarter, compared to analyst estimates of $473.92 million. On average, equities analysts anticipate that Clearway Energy will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Clearway Energy

A number of hedge funds and other institutional investors have recently modified their holdings of CWEN. Public Employees Retirement System of Ohio purchased a new stake in Clearway Energy in the second quarter worth approximately $1,229,000. Baird Financial Group Inc. boosted its position in Clearway Energy by 12.9% during the 2nd quarter. Baird Financial Group Inc. now owns 296,250 shares of the company’s stock valued at $10,126,000 after buying an additional 33,922 shares during the period. Squarepoint Ops LLC grew its stake in shares of Clearway Energy by 276.7% in the second quarter. Squarepoint Ops LLC now owns 207,332 shares of the company’s stock worth $7,087,000 after purchasing an additional 152,292 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Clearway Energy in the 1st quarter worth approximately $1,427,000. Finally, Sanctuary Advisors LLC boosted its holdings in Clearway Energy by 31.3% in the first quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock valued at $9,571,000 after acquiring an additional 58,138 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

(Get Free Report)

Clearway Energy, Inc (NYSE:CWEN) owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company’s renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.

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