Clearway Energy (NYSE:CWEN) Raised to Hold at Evercore ISI

Key Points

• Clearway Energy (NYSE:CWEN) received an upgrade to a "hold" rating by Evercore ISI, reflecting a recent shift in analyst sentiment towards the stock.
• Analysts project a consensus price target of $36.33 for Clearway Energy, with a mixed outlook where four analysts rated it a "Buy" and four rated it a "Hold".
• Clearway Energy reported disappointing earnings results with a $0.28 EPS for the last quarter, falling short of the $0.67 consensus estimate.

Clearway Energy (NYSE:CWEN - Get Free Report) was upgraded by analysts at Evercore ISI to a "hold" rating in a research report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on CWEN. Wall Street Zen cut shares of Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Jefferies Financial Group lifted their price objective on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a "hold (c)" rating on shares of Clearway Energy in a research note on Saturday, September 27th. Roth Capital restated a "buy" rating and set a $38.00 price objective on shares of Clearway Energy in a research note on Monday. Finally, CIBC cut shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective on the stock. in a research note on Saturday, July 19th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.33.

Clearway Energy Stock Performance

CWEN stock opened at $30.96 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. The stock has a market capitalization of $6.26 billion, a price-to-earnings ratio of 47.63, a PEG ratio of 1.43 and a beta of 0.89. Clearway Energy has a 1 year low of $24.40 and a 1 year high of $33.22. The stock's fifty day moving average is $29.58 and its two-hundred day moving average is $30.10.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.39). The company had revenue of $392.00 million during the quarter, compared to the consensus estimate of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The business's quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, research analysts predict that Clearway Energy will post 0.83 EPS for the current year.

Hedge Funds Weigh In On Clearway Energy

A number of institutional investors have recently bought and sold shares of CWEN. Alpine Bank Wealth Management purchased a new position in Clearway Energy in the 1st quarter worth about $27,000. Hilltop National Bank purchased a new position in Clearway Energy in the 2nd quarter worth about $35,000. Headlands Technologies LLC purchased a new position in Clearway Energy in the 2nd quarter worth about $43,000. Tsfg LLC purchased a new position in Clearway Energy in the 1st quarter worth about $61,000. Finally, NBT Bank N A NY acquired a new stake in Clearway Energy during the 1st quarter worth about $71,000. Hedge funds and other institutional investors own 84.53% of the company's stock.

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.

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