Clearway Energy (NYSE:CWEN) Stock Rating Upgraded by Zacks Research

Clearway Energy (NYSE:CWEN) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

A number of other brokerages have also commented on CWEN. Canadian Imperial Bank of Commerce set a $42.00 target price on shares of Clearway Energy in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Seaport Research Partners cut their price objective on shares of Clearway Energy from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, October 2nd. UBS Group raised their price target on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Evercore reiterated a “positive” rating and set a $40.00 price objective on shares of Clearway Energy in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $43.44.

Clearway Energy Stock Performance

NYSE CWEN opened at $30.23 on Monday. The business has a 50 day simple moving average of $31.16 and a two-hundred day simple moving average of $34.83. Clearway Energy has a 1-year low of $28.57 and a 1-year high of $41.74. The stock has a market capitalization of $6.21 billion, a PE ratio of 39.78 and a beta of 0.88. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.76. The firm had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. On average, research analysts predict that Clearway Energy will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its holdings in shares of Clearway Energy by 9.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 101,817 shares of the company’s stock valued at $2,980,000 after purchasing an additional 8,797 shares in the last quarter. Diversify Advisory Services LLC increased its stake in Clearway Energy by 4.6% in the third quarter. Diversify Advisory Services LLC now owns 37,270 shares of the company’s stock valued at $1,117,000 after purchasing an additional 1,649 shares during the period. Investment Research Partners LLC raised its stake in shares of Clearway Energy by 18.9% during the third quarter. Investment Research Partners LLC now owns 16,056 shares of the company’s stock worth $470,000 after purchasing an additional 2,548 shares during the last quarter. New England Research & Management Inc. boosted its holdings in shares of Clearway Energy by 6.0% in the third quarter. New England Research & Management Inc. now owns 25,050 shares of the company’s stock valued at $733,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Avail Investment Partners LLC acquired a new position in Clearway Energy during the 3rd quarter worth approximately $205,000. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE:CWEN) owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company’s renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.