Clearway Energy (NYSE:CWEN) Upgraded by StockNews.com to Hold Rating

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

Several other equities analysts have also commented on the company. CIBC upped their target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research note on Tuesday, October 22nd. BNP Paribas initiated coverage on Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 target price for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Clearway Energy has an average rating of “Moderate Buy” and a consensus target price of $32.57.

Clearway Energy Stock Performance

NYSE CWEN opened at $25.57 on Wednesday. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 24.59, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88. The business has a fifty day moving average of $26.82 and a 200-day moving average of $27.56. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.17). Clearway Energy had a return on equity of 2.28% and a net margin of 8.94%. The company had revenue of $486.00 million during the quarter, compared to analyst estimates of $417.55 million. During the same period last year, the firm earned $0.03 earnings per share. The business’s revenue was up 31.0% compared to the same quarter last year. As a group, analysts predict that Clearway Energy will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearway Energy

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was 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 owns 8,153 shares of the company’s stock, valued at approximately $218,011.22. The trade was a 19.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearway Energy

A number of institutional investors have recently added to or reduced their stakes in CWEN. The Manufacturers Life Insurance Company boosted its position in shares of Clearway Energy by 144.8% in the second 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 period. Yaupon Capital Management LP boosted its position in shares of Clearway Energy by 209.3% in the third quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock worth $9,991,000 after buying an additional 220,360 shares during the period. abrdn plc boosted its position in shares of Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company’s stock worth $15,761,000 after buying an additional 141,500 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Clearway Energy in the third quarter worth about $3,532,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Clearway Energy in the second quarter worth about $1,595,000. 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.