Clearway Energy (NYSE:CWEN) Raised to Hold at StockNews.com

Clearway Energy (NYSE:CWEN) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other research analysts have also recently issued reports on the company. BNP Paribas began coverage on Clearway Energy in a research report on Tuesday, October 1st. They set an “outperform” rating and a $36.00 price objective for the company. CIBC boosted their price objective on shares of Clearway Energy from $33.00 to $34.00 and gave the stock an “outperformer” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Clearway Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.57.

Clearway Energy Stock Performance

CWEN traded down $0.05 during trading on Wednesday, reaching $25.57. 814,751 shares of the company’s stock were exchanged, compared to its average volume of 757,508. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.59 and a quick ratio of 1.49. Clearway Energy has a 1 year low of $20.63 and a 1 year high of $30.92. The company’s fifty day simple moving average is $26.82 and its 200-day simple moving average is $27.56. The stock has a market capitalization of $5.17 billion, a P/E ratio of 24.59, a price-to-earnings-growth 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 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 analysts’ expectations of $417.55 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. During the same quarter last year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. As a group, research analysts predict that Clearway Energy will post 0.82 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Brian R. Ford sold 2,000 shares of the company’s 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 completion of the sale, the director now directly owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. This represents a 19.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Fulton Bank N.A. grew its holdings in Clearway Energy by 3.8% in the 3rd quarter. Fulton Bank N.A. now owns 12,206 shares of the company’s stock worth $374,000 after buying an additional 449 shares in the last quarter. Congress Asset Management Co. boosted its stake in Clearway Energy by 0.4% during the 3rd quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock valued at $5,806,000 after purchasing an additional 699 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Clearway Energy by 5.2% during the 4th quarter. Ballentine Partners LLC now owns 15,916 shares of the company’s stock valued at $414,000 after purchasing an additional 787 shares during the period. Quarry LP lifted its holdings in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after acquiring an additional 843 shares during the last quarter. Finally, Quad Cities Investment Group LLC boosted its position in shares of Clearway Energy by 7.6% during the 4th quarter. Quad Cities Investment Group LLC now owns 12,602 shares of the company’s stock valued at $328,000 after purchasing an additional 886 shares in the last quarter. Hedge funds and other institutional investors own 84.53% of the company’s stock.

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.