Clearway Energy (NYSE:CWEN) Now Covered by Jefferies Financial Group

Analysts at Jefferies Financial Group assumed coverage on shares of Clearway Energy (NYSE:CWEN) in a report issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 18.24% from the company’s current price.

CWEN has been the topic of several other research reports. StockNews.com raised shares of Clearway Energy from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Morgan Stanley raised shares of Clearway Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $25.00 to $36.00 in a report on Wednesday, July 31st. Finally, Roth Mkm reissued a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of Clearway Energy in a report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.71.

Clearway Energy Trading Up 1.8 %

Shares of CWEN stock opened at $29.60 on Friday. Clearway Energy has a 52-week low of $18.59 and a 52-week high of $29.94. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 44.85, a P/E/G ratio of 2.24 and a beta of 0.86. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. The firm has a fifty day moving average of $27.86 and a 200-day moving average of $25.71.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data 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 business had revenue of $366.00 million during the quarter, compared to analyst estimates of $424.59 million. During the same quarter in the prior year, the company posted $0.33 EPS. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, equities research analysts forecast that Clearway Energy will post 0.9 earnings per share for the current fiscal year.

Institutional Trading of Clearway Energy

Several hedge funds have recently bought and sold shares of CWEN. Vanguard Personalized Indexing Management LLC acquired a new stake in Clearway Energy during the 4th quarter worth approximately $533,000. Bank of Nova Scotia raised its holdings in Clearway Energy by 113.4% during the 4th quarter. Bank of Nova Scotia now owns 211,727 shares of the company’s stock worth $5,808,000 after buying an additional 112,496 shares during the period. CIBC Asset Management Inc acquired a new stake in Clearway Energy during the 4th quarter worth approximately $274,000. First Trust Advisors LP raised its holdings in Clearway Energy by 4.3% during the 4th quarter. First Trust Advisors LP now owns 912,578 shares of the company’s stock worth $25,032,000 after buying an additional 38,032 shares during the period. Finally, Pinebridge Investments L.P. raised its holdings in shares of Clearway Energy by 31.8% in the fourth quarter. Pinebridge Investments L.P. now owns 335,489 shares of the company’s stock valued at $9,202,000 after purchasing an additional 80,962 shares during the last quarter. 38.03% of the stock is currently owned by institutional investors and hedge funds.

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.