Clearway Energy (NYSE:CWEN) Stock Price Expected to Rise, CIBC Analyst Says

Key Points

• CIBC has raised its price target for Clearway Energy (NYSE:CWEN) from $35.00 to $37.00, suggesting a potential upside of 21.18% from its current price.
• Analysts have a mixed outlook on Clearway Energy, with five rating it as a Buy and four as a Hold, while the consensus price target sits at $36.57.
• Clearway Energy's recent earnings report revealed an EPS of $0.28, missing estimates, while revenues of $392 million showed a year-over-year increase of 7.1%.

Clearway Energy (NYSE:CWEN - Get Free Report) had its price objective raised by research analysts at CIBC from $35.00 to $37.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. CIBC's target price suggests a potential upside of 21.18% from the stock's current price.

Several other equities analysts have also weighed in on CWEN. Royal Bank Of Canada began coverage on Clearway Energy in a research note on Wednesday, October 8th. They issued an "outperform" rating and a $36.00 target price on the stock. Jefferies Financial Group increased their target price on Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered Clearway Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Clearway Energy in a research note on Wednesday, October 8th. Finally, Cibc World Mkts lowered Clearway Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.57.

Clearway Energy Price Performance

NYSE:CWEN traded down $1.06 during trading hours on Tuesday, reaching $30.53. The company had a trading volume of 115,664 shares, compared to its average volume of 959,986. The stock has a 50-day moving average of $29.66 and a two-hundred day moving average of $30.20. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $6.17 billion, a PE ratio of 46.93, a PEG ratio of 1.24 and a beta of 0.89. Clearway Energy has a one year low of $24.40 and a one year high of $33.22.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Mather Group LLC. bought a new position in shares of Clearway Energy during the third quarter worth about $29,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Clearway Energy by 26.0% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,100 shares of the company's stock worth $794,000 after purchasing an additional 5,800 shares in the last quarter. Quad Cities Investment Group LLC raised its stake in shares of Clearway Energy by 10.7% during the 3rd quarter. Quad Cities Investment Group LLC now owns 16,356 shares of the company's stock worth $462,000 after purchasing an additional 1,584 shares in the last quarter. Spirit of America Management Corp NY raised its stake in shares of Clearway Energy by 35.9% during the 3rd quarter. Spirit of America Management Corp NY now owns 20,800 shares of the company's stock worth $588,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Clearway Energy by 1.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 70,144 shares of the company's stock worth $1,982,000 after purchasing an additional 816 shares in the last quarter. 84.53% 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.

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