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

Shares of Clearway Energy, Inc. (NYSE:CWEN) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $37.7143.

A number of analysts recently commented on CWEN shares. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. Roth Mkm increased their target price on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Canadian Imperial Bank of Commerce raised Clearway Energy from a “neutral” rating to a “sector outperform” rating and raised their price target for the stock from $37.00 to $38.00 in a report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Finally, UBS Group restated a “buy” rating and issued a $39.00 target price on shares of Clearway Energy in a research note on Wednesday, December 10th.

Hedge Funds Weigh In On Clearway Energy

Several hedge funds have recently bought and sold shares of CWEN. Caitong International Asset Management Co. Ltd boosted its holdings in Clearway Energy by 280.9% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock valued at $27,000 after purchasing an additional 705 shares during the period. National Bank of Canada FI raised its position in shares of Clearway Energy by 201.9% in the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after buying an additional 652 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Clearway Energy in the third quarter worth $29,000. Hilltop National Bank bought a new stake in Clearway Energy during the second quarter valued at $35,000. Finally, Geneos Wealth Management Inc. grew its position in Clearway Energy by 94.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock worth $41,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Trading Up 2.9%

Shares of Clearway Energy stock opened at $38.67 on Monday. The stock has a market capitalization of $7.88 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.46 and a beta of 0.94. Clearway Energy has a 52-week low of $25.55 and a 52-week high of $38.71. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.44 and a current ratio of 1.54. The stock’s 50-day simple moving average is $34.31 and its 200 day simple moving average is $32.40.

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.