Clearway Energy (NYSE:CWEN) Upgraded by StockNews.com to “Hold” Rating

Clearway Energy (NYSE:CWEN) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

CWEN has been the subject of several other research reports. BNP Paribas assumed coverage on shares of Clearway Energy in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $36.00 price objective for the company. CIBC increased their price target on Clearway Energy from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Clearway Energy currently has an average rating of “Moderate Buy” and an average target price of $32.57.

Clearway Energy Price Performance

Shares of NYSE:CWEN opened at $25.99 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.49 and a debt-to-equity ratio of 1.20. The stock has a market cap of $5.25 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88. The stock’s fifty day simple moving average is $26.78 and its two-hundred day simple moving average is $27.55. Clearway Energy has a 1-year low of $20.63 and a 1-year high of $30.92.

Clearway Energy (NYSE:CWEN) last announced its earnings results on Wednesday, October 30th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The firm had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $417.55 million. During the same quarter in the prior year, the company earned $0.03 EPS. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. As a group, analysts forecast that Clearway Energy will post 0.82 EPS for the current fiscal year.

Insider Transactions at Clearway Energy

In other news, Director Brian R. Ford sold 2,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $26.74, for a total transaction of $53,480.00. Following the completion of the transaction, the director now owns 8,153 shares in the company, valued at approximately $218,011.22. This represents a 19.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearway Energy

Several institutional investors have recently added to or reduced their stakes in CWEN. Congress Asset Management Co. lifted its position in shares of Clearway Energy by 6.7% during the fourth quarter. Congress Asset Management Co. now owns 201,876 shares of the company’s stock worth $5,249,000 after acquiring an additional 12,640 shares in the last quarter. ABC Arbitrage SA bought a new stake in shares of Clearway Energy during the 4th quarter valued at $325,000. Entropy Technologies LP lifted its holdings in Clearway Energy by 32.9% during the 4th quarter. Entropy Technologies LP now owns 44,445 shares of the company’s stock worth $1,156,000 after purchasing an additional 11,012 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Clearway Energy by 630.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 16,917 shares of the company’s stock worth $440,000 after purchasing an additional 14,600 shares during the period. Finally, Apollon Wealth Management LLC bought a new position in Clearway Energy in the 4th quarter worth about $221,000. 84.53% 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.