Clearway Energy (NYSE:CWEN) Upgraded by Bank of America to “Buy”

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Bank of America upgraded shares of Clearway Energy (NYSE:CWEN) from a neutral rating to a buy rating in a report released on Friday, Briefing.com Automated Import reports.

Other research analysts also recently issued reports about the company. ValuEngine raised Ultrapar Participacoes from a strong sell rating to a sell rating in a research note on Tuesday, June 4th. Zacks Investment Research downgraded HANNOVER RUECK/S from a hold rating to a sell rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $15.00.

Shares of CWEN stock opened at $18.05 on Friday. The firm has a 50 day moving average of $16.77. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.26 and a quick ratio of 0.23. Clearway Energy has a twelve month low of $12.12 and a twelve month high of $20.75. The company has a market cap of $3.45 billion, a P/E ratio of 39.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.20). Clearway Energy had a net margin of 1.15% and a return on equity of 0.53%. The company had revenue of $217.00 million during the quarter, compared to the consensus estimate of $230.11 million. During the same period in the previous year, the business posted $0.16 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. Sell-side analysts predict that Clearway Energy will post 1.51 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Robeco Institutional Asset Management B.V. boosted its position in shares of Clearway Energy by 1.1% during the second quarter. Robeco Institutional Asset Management B.V. now owns 792,361 shares of the company’s stock worth $13,358,000 after buying an additional 8,509 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Clearway Energy during the second quarter worth about $256,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Clearway Energy during the first quarter worth about $810,000. Kennedy Capital Management Inc. acquired a new position in shares of Clearway Energy during the first quarter worth about $1,889,000. Finally, NumerixS Investment Technologies Inc boosted its position in shares of Clearway Energy by 366.7% during the first quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the company’s stock worth $146,000 after buying an additional 7,700 shares during the period. 31.58% of the stock is currently owned by institutional investors.

About Clearway Energy

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.

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