Clearway Energy (NYSE:CWEN) PT Raised to $34.00 at CIBC

Clearway Energy (NYSE:CWEN) had its price objective hoisted by CIBC from $33.00 to $34.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperformer” rating on the stock. CIBC’s target price would indicate a potential upside of 25.93% from the stock’s current price.

Several other brokerages have also issued reports on CWEN. Jefferies Financial Group started coverage on Clearway Energy in a research report on Friday, September 20th. They issued a “buy” rating and a $35.00 target price for the company. Roth Mkm reissued a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a research report on Friday, August 2nd. BNP Paribas initiated coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price on the stock. StockNews.com upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $25.00 to $36.00 in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and a consensus price target of $33.13.

Clearway Energy Stock Up 0.6 %

Shares of Clearway Energy stock opened at $27.00 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 1.19. Clearway Energy has a 12-month low of $20.63 and a 12-month high of $30.92. The company has a market cap of $5.46 billion, a P/E ratio of 35.53, a PEG ratio of 2.30 and a beta of 0.86. The company’s fifty day simple moving average is $28.70 and its two-hundred day simple moving average is $26.77.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The company had revenue of $366.00 million for the quarter, compared to the consensus estimate of $424.59 million. During the same period in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Research analysts anticipate that Clearway Energy will post 0.85 EPS for the current year.

Institutional Investors Weigh In On Clearway Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. bought a new position in Clearway Energy during the first quarter valued at approximately $37,000. Abich Financial Wealth Management LLC raised its stake in shares of Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock worth $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. increased its holdings in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after acquiring an additional 512 shares in the last quarter. Quarry LP boosted its position in shares of Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares during the period. Finally, nVerses Capital LLC boosted its holdings in Clearway Energy by 34.0% in the 3rd quarter. nVerses Capital LLC now owns 6,700 shares of the company’s stock worth $206,000 after buying an additional 1,700 shares during the period. Institutional investors own 38.03% of the company’s stock.

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.