Clearway Energy (NYSE:CWEN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Clearway Energy from “sell” to “hold,” while the broader analyst consensus remains “Buy” with a $44.50 price target.
• Clearway Energy opened at $31.75, below its 50-day and 200-day moving averages, with shares trading between a 52-week range of $27.67 and $41.74.
• The company exceeded quarterly expectations, reporting $1.00 in earnings per share versus the $0.24 consensus estimate and revenue of $481 million; institutional investors own 84.53% of the stock.

Clearway Energy (NYSE:CWEN - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other research analysts have also issued research reports about the stock. Evercore restated a "positive" rating and set a $40.00 target price on shares of Clearway Energy in a research report on Monday, August 17th. Zacks Research upgraded shares of Clearway Energy from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Weiss Ratings upgraded Clearway Energy from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Thursday, August 6th. UBS Group increased their price target on Clearway Energy from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Finally, Canadian Imperial Bank of Commerce set a $42.00 price objective on Clearway Energy in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Clearway Energy presently has a consensus rating of "Buy" and a consensus price target of $44.50.

Clearway Energy Stock Performance

CWEN opened at $31.75 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.11 and a quick ratio of 1.02. The business has a fifty day simple moving average of $33.42 and a 200 day simple moving average of $37.05. Clearway Energy has a 1 year low of $27.67 and a 1 year high of $41.74. The company has a market capitalization of $6.52 billion, a PE ratio of 41.78 and a beta of 0.89.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.76. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%.The firm had revenue of $481.00 million for the quarter, compared to analysts' expectations of $473.92 million. Research analysts expect that Clearway Energy will post -0.5 EPS for the current year.

Institutional Trading of Clearway Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CWEN. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Clearway Energy in the second quarter valued at approximately $3,182,000. California State Teachers Retirement System lifted its stake in Clearway Energy by 3,220.4% during the second quarter. California State Teachers Retirement System now owns 4,631,971 shares of the company's stock worth $158,321,000 after purchasing an additional 4,492,472 shares during the last quarter. Wedmont Private Capital acquired a new stake in shares of Clearway Energy in the 2nd quarter valued at $250,000. HB Wealth Management LLC boosted its holdings in shares of Clearway Energy by 79.5% in the 2nd quarter. HB Wealth Management LLC now owns 9,294 shares of the company's stock valued at $318,000 after purchasing an additional 4,115 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of Clearway Energy in the 2nd quarter valued at $252,000. Institutional investors own 84.53% of the company's stock.

About Clearway Energy

Clearway Energy Group NYSE: CWEN is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company's portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway's generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.

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