Clearway Energy (NYSE:CWEN) Stock Rating Upgraded by Wall Street Zen

Clearway Energy (NYSE:CWEN) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

CWEN has been the subject of several other reports. Royal Bank Of Canada started coverage on Clearway Energy in a research note on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price objective for the company. CIBC raised Clearway Energy from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the stock from $37.00 to $38.00 in a report on Tuesday, December 16th. Roth Capital lifted their price objective on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Zacks Research upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Finally, Evercore ISI started coverage on Clearway Energy in a research note on Monday, October 6th. They issued an “in-line” rating and a $34.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.25.

Clearway Energy Trading Up 2.1%

Shares of NYSE CWEN opened at $36.11 on Friday. The stock has a market capitalization of $7.36 billion, a PE ratio of 15.43, a PEG ratio of 1.36 and a beta of 0.95. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41. The stock has a fifty day simple moving average of $34.15 and a 200-day simple moving average of $31.98. Clearway Energy has a twelve month low of $24.50 and a twelve month high of $36.89.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $1.68. The company had revenue of $429.00 million for the quarter, compared to analyst estimates of $427.72 million. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.Clearway Energy’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. On average, equities analysts forecast that Clearway Energy will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Clearway Energy by 280.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after acquiring an additional 705 shares during the last quarter. National Bank of Canada FI increased its holdings in Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Clearway Energy in the third quarter valued at approximately $29,000. Hilltop National Bank bought a new stake in Clearway Energy during the 2nd quarter worth about $35,000. Finally, Headlands Technologies LLC bought a new position in Clearway Energy in the second quarter valued at approximately $43,000. 84.53% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.