Jefferies Financial Group Raises Clearway Energy (NYSE:CWEN) Price Target to $39.00

Clearway Energy (NYSE:CWEN) had its price objective hoisted by investment analysts at Jefferies Financial Group from $37.00 to $39.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 22.60% from the company’s previous close.

CWEN has been the topic of a number of other reports. Cibc World Mkts cut shares of Clearway Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft started coverage on Clearway Energy in a research report on Tuesday, March 25th. They issued a “buy” rating and a $38.00 price target on the stock. CIBC downgraded Clearway Energy from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Saturday, July 19th. Finally, Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Clearway Energy Price Performance

Clearway Energy stock opened at $31.81 on Wednesday. The business’s 50-day simple moving average is $31.48 and its 200 day simple moving average is $29.04. The company has a quick ratio of 1.42, a current ratio of 1.52 and a debt-to-equity ratio of 1.33. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 39.77, a P/E/G ratio of 0.83 and a beta of 0.87. Clearway Energy has a 12-month low of $24.40 and a 12-month high of $33.22.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.28. Clearway Energy had a net margin of 6.69% and a return on equity of 1.68%. The company had revenue of $298.00 million for the quarter, compared to analyst estimates of $305.74 million. During the same quarter last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts anticipate that Clearway Energy will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fox Run Management L.L.C. acquired a new stake in shares of Clearway Energy during the fourth quarter worth about $248,000. New Age Alpha Advisors LLC bought a new stake in Clearway Energy during the 4th quarter worth approximately $31,000. Duff & Phelps Investment Management Co. raised its holdings in Clearway Energy by 23.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 34,238 shares of the company’s stock worth $890,000 after buying an additional 6,488 shares during the period. Boxwood Ventures Inc. bought a new position in Clearway Energy in the fourth quarter valued at approximately $361,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in Clearway Energy by 233.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 6,885 shares of the company’s stock valued at $179,000 after buying an additional 4,823 shares in the last quarter. 84.53% of the stock is owned by institutional investors and hedge funds.

About Clearway Energy

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.