Clearway Energy (NYSE:CWEN) Earns Outperform Rating from Analysts at BNP Paribas

Investment analysts at BNP Paribas initiated coverage on shares of Clearway Energy (NYSE:CWEN) in a report issued on Tuesday, Marketbeat.com reports. The firm set an “outperform” rating and a $36.00 price target on the stock. BNP Paribas’ price target suggests a potential upside of 20.91% from the company’s previous close.

CWEN has been the subject of a number of other reports. StockNews.com raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $25.00 to $36.00 in a report on Wednesday, July 31st. Roth Mkm reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Clearway Energy in a research note on Friday, August 2nd. Finally, Jefferies Financial Group began coverage on shares of Clearway Energy in a research note on Friday, September 20th. They issued a “buy” rating and a $35.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and an average target price of $32.25.

Clearway Energy Trading Down 3.1 %

Clearway Energy stock opened at $29.78 on Tuesday. Clearway Energy has a 1 year low of $18.59 and a 1 year high of $30.92. The firm’s 50 day moving average price is $28.55 and its 200-day moving average price is $26.16. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.46 and a quick ratio of 1.37. The stock has a market cap of $6.02 billion, a P/E ratio of 45.15, a PEG ratio of 2.52 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The company had revenue of $366.00 million during the quarter, compared to the consensus estimate of $424.59 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The business’s revenue was down 9.9% on a year-over-year basis. On average, equities analysts predict that Clearway Energy will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearway Energy

A number of large investors have recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in Clearway Energy in the fourth quarter worth about $25,000. Mather Group LLC. bought a new stake in shares of Clearway Energy during the 1st quarter worth approximately $37,000. Abich Financial Wealth Management LLC boosted its holdings in Clearway Energy by 49.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after acquiring an additional 625 shares during the period. Whittier Trust Co. grew its position in Clearway Energy by 33.8% in the 2nd quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock valued at $50,000 after acquiring an additional 512 shares during the last quarter. Finally, Quarry LP increased its stake in Clearway Energy by 53.4% in the second quarter. Quarry LP now owns 2,422 shares of the company’s stock worth $60,000 after purchasing an additional 843 shares during the period. 38.03% of the stock is owned by hedge funds and other institutional investors.

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.