Brokerages Set Clearway Energy, Inc. (NYSE:CWEN) PT at $37.71

Clearway Energy, Inc. (NYSE:CWEN) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $37.7143.

CWEN has been the topic of a number of research reports. UBS Group restated a “buy” rating and set a $39.00 target price on shares of Clearway Energy in a research report on Wednesday, December 10th. Roth Mkm increased their price objective on shares of Clearway Energy from $39.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce upgraded shares of Clearway Energy from a “neutral” rating to a “sector outperform” rating and upped their target price for the company from $37.00 to $38.00 in a research report on Tuesday, December 16th. Finally, Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th.

Clearway Energy Stock Performance

CWEN stock opened at $38.67 on Monday. The company has a 50 day moving average price of $34.31 and a 200 day moving average price of $32.40. Clearway Energy has a fifty-two week low of $25.55 and a fifty-two week high of $38.71. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.54 and a quick ratio of 1.44. The stock has a market capitalization of $7.88 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.42 and a beta of 0.95.

Clearway Energy (NYSE:CWEN) last released its earnings results on Tuesday, November 4th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $0.32 by $1.68. The company had revenue of $429.00 million during 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 period last year, the firm earned $0.31 EPS. Analysts forecast that Clearway Energy will post 0.83 EPS for the current year.

Institutional Trading of Clearway Energy

A number of institutional investors and hedge funds have recently modified their holdings of CWEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Clearway Energy by 1,116.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock worth $13,757,000 after acquiring an additional 394,579 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in Clearway Energy in the third quarter worth $6,473,000. Nordea Investment Management AB boosted its position in shares of Clearway Energy by 325.3% during the second quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock worth $7,747,000 after purchasing an additional 187,861 shares in the last quarter. Capula Management Ltd acquired a new position in shares of Clearway Energy in the 3rd quarter valued at $4,646,000. Finally, Maven Securities LTD grew its holdings in shares of Clearway Energy by 1,285.4% in the 3rd quarter. Maven Securities LTD now owns 144,082 shares of the company’s stock valued at $4,070,000 after buying an additional 133,682 shares during the period. 84.53% of the stock is owned by institutional investors.

Clearway Energy Company Profile

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.