Clearway Energy (NYSE:CWEN) Raised to “Strong-Buy” at Cibc Captl Mkts

Clearway Energy (NYSE:CWEN) was upgraded by equities researchers at Cibc Captl Mkts from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. CIBC raised shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and lifted their price objective for the stock from $37.00 to $38.00 in a research report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research report on Wednesday, October 8th. Royal Bank Of Canada assumed coverage on shares of Clearway Energy in a report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 price target on the stock. Finally, Roth Capital upped their price target on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Clearway Energy presently has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Clearway Energy Stock Performance

Shares of CWEN stock opened at $32.59 on Tuesday. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.37 and a beta of 0.95. Clearway Energy has a 52-week low of $24.40 and a 52-week high of $36.89. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. The company’s 50 day moving average is $33.64 and its 200 day moving average is $31.66.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.68. The business had revenue of $429.00 million for the quarter, compared to analysts’ expectations of $427.72 million. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The business’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. On average, sell-side analysts anticipate that Clearway Energy will post 0.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CWEN. Northside Capital Management LLC acquired a new position in shares of Clearway Energy in the 2nd quarter valued at about $8,847,000. Nordea Investment Management AB lifted its holdings in Clearway Energy by 325.3% in the second quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock valued at $7,747,000 after acquiring an additional 187,861 shares during the period. AXQ Capital LP boosted its position in Clearway Energy by 130.1% in the 2nd quarter. AXQ Capital LP now owns 19,919 shares of the company’s stock worth $637,000 after purchasing an additional 11,264 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Clearway Energy during the 2nd quarter worth approximately $356,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of Clearway Energy during the 1st quarter valued at approximately $314,000. 84.53% of the stock is owned by institutional investors and hedge funds.

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.