Clearway Energy (NYSE:CWEN) Rating Increased to Hold at StockNews.com

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

A number of other equities analysts have also recently commented on CWEN. CIBC raised their target price on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a report on Tuesday, October 22nd. BNP Paribas began coverage on Clearway Energy in a report on Tuesday, October 1st. They set 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 given a buy rating to the company. Based on data from MarketBeat, Clearway Energy presently has a consensus rating of “Moderate Buy” and an average price target of $32.57.

Clearway Energy Stock Performance

NYSE CWEN opened at $25.57 on Wednesday. The stock has a market cap of $5.17 billion, a PE ratio of 24.59, a P/E/G ratio of 1.65 and a beta of 0.88. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. Clearway Energy has a twelve month low of $20.63 and a twelve month high of $30.92. The stock has a fifty day simple moving average of $26.82 and a 200-day simple moving average of $27.56.

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 business had revenue of $486.00 million for the quarter, compared to analysts’ expectations of $417.55 million. During the same quarter in the prior year, the company posted $0.03 earnings per share. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. Equities analysts anticipate that Clearway Energy will post 0.82 earnings per share for the current year.

Insider Buying and Selling

In other Clearway Energy news, Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total value of $53,480.00. Following the transaction, the director now directly owns 8,153 shares in the company, valued at approximately $218,011.22. This trade represents a 19.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. abrdn plc boosted its stake in shares of Clearway Energy by 30.7% in the fourth quarter. abrdn plc now owns 602,700 shares of the company’s stock valued at $15,761,000 after buying an additional 141,500 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Clearway Energy by 4.6% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 498,000 shares of the company’s stock valued at $12,948,000 after buying an additional 22,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake 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 valued at $10,623,000 after buying an additional 254,486 shares in the last quarter. Yaupon Capital Management LP raised its holdings in Clearway Energy by 209.3% during the third quarter. Yaupon Capital Management LP now owns 325,643 shares of the company’s stock worth $9,991,000 after purchasing an additional 220,360 shares during the last quarter. Finally, Congress Asset Management Co. raised its holdings in Clearway Energy by 0.4% during the third quarter. Congress Asset Management Co. now owns 189,236 shares of the company’s stock worth $5,806,000 after purchasing an additional 699 shares during the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

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.