Clearway Energy, Inc. (NYSE:CWEN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $37.7143.

CWEN has been the subject of several research analyst reports. Wall Street Zen raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. CIBC upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and increased their price objective for the company from $37.00 to $38.00 in a report on Tuesday, December 16th. Cibc Captl Mkts upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 16th. Zacks Research upgraded Clearway Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Finally, Royal Bank Of Canada started coverage on Clearway Energy in a research report on Wednesday, October 8th. They set an “outperform” rating and a $36.00 price target on the stock.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP boosted its position in shares of Clearway Energy by 3.7% during the 2nd quarter. First Trust Advisors LP now owns 2,171,301 shares of the company’s stock valued at $69,482,000 after purchasing an additional 77,595 shares in the last quarter. RWC Asset Management LLP lifted its stake in Clearway Energy by 12.2% during the third quarter. RWC Asset Management LLP now owns 745,537 shares of the company’s stock valued at $21,061,000 after purchasing an additional 81,349 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its holdings in Clearway Energy by 8.8% during the third quarter. Cbre Investment Management Listed Real Assets LLC now owns 625,000 shares of the company’s stock worth $17,656,000 after buying an additional 50,344 shares in the last quarter. Aberdeen Group plc boosted its holdings in Clearway Energy by 0.3% during the third quarter. Aberdeen Group plc now owns 580,307 shares of the company’s stock worth $16,463,000 after buying an additional 1,807 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Clearway Energy by 1.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 435,054 shares of the company’s stock worth $12,290,000 after buying an additional 5,142 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $36.14 on Monday. Clearway Energy has a 12-month low of $25.08 and a 12-month high of $37.40. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.54 and a quick ratio of 1.44. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.37 and a beta of 0.94. The business has a 50 day simple moving average of $34.21 and a 200 day simple moving average of $32.23.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. The company had revenue of $429.00 million during 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%.The firm’s quarterly revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. On average, equities research analysts anticipate that Clearway Energy will post 0.83 EPS for the current year.

About Clearway Energy

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.