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

Research analysts at Jefferies Financial Group started coverage on shares of Clearway Energy (NYSE:CWEN) in a research note issued to investors on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $35.00 price target on the stock. Jefferies Financial Group’s price target points to a potential upside of 20.40% from the stock’s previous close.

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

Clearway Energy Trading Down 0.8 %

NYSE CWEN opened at $29.07 on Friday. The firm’s 50 day moving average price is $27.79 and its two-hundred day moving average price is $25.63. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.37 and a current ratio of 1.46. Clearway Energy has a twelve month low of $18.59 and a twelve month high of $29.94. The stock has a market cap of $5.88 billion, a price-to-earnings ratio of 44.05, a PEG ratio of 2.24 and a beta of 0.86.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.23). The business had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $424.59 million. Clearway Energy had a net margin of 7.21% and a return on equity of 1.80%. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. Equities analysts anticipate that Clearway Energy will post 0.9 EPS for the current year.

Hedge Funds Weigh In On Clearway Energy

Institutional investors have recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in shares of Clearway Energy during the 4th quarter valued at about $25,000. Mather Group LLC. bought a new position in shares of Clearway Energy in the first quarter valued at approximately $37,000. Abich Financial Wealth Management LLC raised its position in shares of Clearway Energy by 49.8% in the first quarter. Abich Financial Wealth Management LLC now owns 1,879 shares of the company’s stock valued at $43,000 after purchasing an additional 625 shares during the period. Whittier Trust Co. lifted its stake in shares of Clearway Energy by 33.8% in the second quarter. Whittier Trust Co. now owns 2,027 shares of the company’s stock worth $50,000 after buying an additional 512 shares during the last quarter. Finally, Quarry LP grew its stake in Clearway Energy by 53.4% in the 2nd quarter. Quarry LP now owns 2,422 shares of the company’s stock valued at $60,000 after buying an additional 843 shares during the last quarter. 38.03% of the stock is currently owned by 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.