Clearway Energy (NYSE:CWEN) Price Target Raised to $42.00

Clearway Energy (NYSE:CWEN) had its price objective hoisted by stock analysts at Truist Financial from $40.00 to $42.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial‘s target price suggests a potential upside of 23.80% from the stock’s previous close.

Other analysts have also issued research reports about the company. Canadian Imperial Bank of Commerce set a $42.00 price target on Clearway Energy in a research note on Friday, July 17th. Evercore reissued a “positive” rating and set a $40.00 price objective on shares of Clearway Energy in a research report on Monday, August 17th. Zacks Research upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Finally, UBS Group dropped their target price on shares of Clearway Energy from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $42.22.

Clearway Energy Trading Up 1.6%

NYSE CWEN opened at $33.93 on Friday. The stock has a market cap of $6.96 billion, a P/E ratio of -41.44 and a beta of 0.81. Clearway Energy has a fifty-two week low of $28.57 and a fifty-two week high of $41.74. The stock has a 50 day simple moving average of $31.33 and a two-hundred day simple moving average of $35.51. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.02 and a current ratio of 1.47.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Monday, November 9th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.41). The business had revenue of $522.00 million for the quarter, compared to analysts’ expectations of $513.11 million. Clearway Energy had a negative net margin of 5.64% and a negative return on equity of 1.66%. On average, analysts forecast that Clearway Energy will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CWEN. Global Retirement Partners LLC lifted its position in Clearway Energy by 34.2% during the 3rd quarter. Global Retirement Partners LLC now owns 1,139 shares of the company’s stock valued at $33,000 after acquiring an additional 290 shares during the period. Farther Finance Advisors LLC boosted its stake in Clearway Energy by 4.8% during the third quarter. Farther Finance Advisors LLC now owns 8,910 shares of the company’s stock worth $261,000 after acquiring an additional 412 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in Clearway Energy by 49.2% during the third quarter. Salomon & Ludwin LLC now owns 1,408 shares of the company’s stock worth $41,000 after acquiring an additional 464 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in Clearway Energy by 6.2% during the third quarter. Chicago Partners Investment Group LLC now owns 8,338 shares of the company’s stock worth $259,000 after acquiring an additional 488 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in Clearway Energy by 6.2% in the third quarter. Voya Investment Management LLC now owns 9,777 shares of the company’s stock worth $286,000 after purchasing an additional 568 shares during the period. 84.53% of the stock is currently owned by institutional investors.

About Clearway Energy

Clearway Energy, Inc. owns and operates electricity-generation facilities in the United States. Its portfolio includes renewable energy assets, primarily wind and solar, as well as energy storage and conventional power-generation and thermal infrastructure. The company sells electricity and related services to utilities and other customers, often through long-term contractual arrangements. Its facilities are located across multiple U.S. regions. Clearway Energy was formerly known as NRG Yield, Inc. and adopted its current name in 2018.