Clearway Energy, Inc. (CWEN) – What Are Brokerages Thinking About This Stock?

Clearway Energy, Inc. (NYSE:CWEN) has earned a consensus recommendation of “Buy” from the ten research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $42.00.

A number of research firms have commented on CWEN. Zacks Research upgraded Clearway Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 19th. Evercore reissued a “positive” rating and issued a $40.00 price target on shares of Clearway Energy in a research note on Monday, August 17th. Morgan Stanley lowered their price objective on Clearway Energy from $58.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, October 21st. Weiss Ratings lowered Clearway Energy from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 24th. Finally, Canadian Imperial Bank of Commerce set a $42.00 price objective on Clearway Energy in a research note on Friday, July 17th.

Clearway Energy Trading Up 1.8%

Shares of NYSE CWEN opened at $34.50 on Wednesday. The firm has a 50 day moving average price of $30.99 and a two-hundred day moving average price of $35.56. The stock has a market cap of $7.08 billion, a P/E ratio of 45.40 and a beta of 0.81. Clearway Energy has a 52-week low of $28.57 and a 52-week high of $41.74. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.76. The business had revenue of $481.00 million during the quarter, compared to analyst estimates of $473.92 million. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. As a group, equities analysts forecast that Clearway Energy will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. boosted its position in Clearway Energy by 0.9% during the first quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock valued at $33,169,000 after acquiring an additional 7,215 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of Clearway Energy by 12.8% in the 3rd quarter. Tectonic Advisors LLC now owns 567,137 shares of the company’s stock worth $16,600,000 after acquiring an additional 64,439 shares in the last quarter. RWC Asset Management LLP raised its position in shares of Clearway Energy by 1.9% in the 3rd quarter. RWC Asset Management LLP now owns 512,440 shares of the company’s stock worth $14,999,000 after acquiring an additional 9,660 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Clearway Energy by 12.9% in the 2nd quarter. Baird Financial Group Inc. now owns 296,250 shares of the company’s stock worth $10,126,000 after acquiring an additional 33,922 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of Clearway Energy by 31.3% in the 1st quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock worth $9,571,000 after acquiring an additional 58,138 shares in the last quarter. Institutional investors and hedge funds own 84.53% of the company’s stock.

About Clearway Energy

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.