StockNews.com Upgrades Clearway Energy (NYSE:CWEN) to “Hold”

StockNews.com upgraded shares of Clearway Energy (NYSE:CWEN) from a sell rating to a hold rating in a research report released on Wednesday morning.

Other equities analysts have also recently issued reports about the company. CIBC lifted their price objective on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. BNP Paribas started coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.57.

Clearway Energy Trading Down 0.1 %

Shares of Clearway Energy stock opened at $25.95 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59. The firm has a 50-day moving average of $26.73 and a 200-day moving average of $27.56. Clearway Energy has a 52-week low of $20.63 and a 52-week high of $30.92. The stock has a market cap of $5.25 billion, a PE ratio of 24.96, a PEG ratio of 1.65 and a beta of 0.88.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). The business had revenue of $486.00 million during the quarter, compared to the consensus estimate of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. As a group, sell-side analysts forecast that Clearway Energy will post 0.83 EPS for the current year.

Insider Activity

In related news, Director Brian R. Ford sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Clearway Energy

Several institutional investors and hedge funds have recently bought and sold shares of CWEN. abrdn plc increased its stake in shares of Clearway Energy by 30.7% in the 4th quarter. abrdn plc now owns 602,700 shares of the company’s stock worth $15,761,000 after acquiring an additional 141,500 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Clearway Energy by 4.6% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 498,000 shares of the company’s stock valued at $12,948,000 after acquiring an additional 22,000 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Clearway Energy by 144.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 430,269 shares of the company’s stock worth $10,623,000 after buying an additional 254,486 shares during the last quarter. Yaupon Capital Management LP grew its stake in shares of Clearway Energy by 209.3% during the 3rd quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock valued at $9,991,000 after purchasing an additional 220,360 shares during the period. Finally, Congress Asset Management Co. grew its position in Clearway Energy by 6.7% during the fourth quarter. Congress Asset Management Co. now owns 201,876 shares of the company’s stock valued at $5,249,000 after buying an additional 12,640 shares during the period. Hedge funds and other institutional investors own 84.53% of the company’s stock.

Clearway Energy Company Profile

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.