Clearway Energy's (CWEN) Hold (C) Rating Reaffirmed at Weiss Ratings

Key Points

• Clearway Energy's stock has been reaffirmed with a "hold (C)" rating by Weiss Ratings, while other research firms have varying opinions, with some downgrading and others maintaining or upgrading their ratings.
• Shares of Clearway Energy traded up by 3.1% to $31.94, with a market capitalization of $6.46 billion and a price-to-earnings ratio of 49.14.
• The company reported a missed earnings estimate for the last quarter, with earnings per share at $0.28 compared to the expected $0.67, despite a 7.1% increase in quarterly revenue compared to the previous year.

Clearway Energy (NYSE:CWEN - Get Free Report)'s stock had its "hold (c)" rating restated by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other research firms also recently commented on CWEN. Cibc World Mkts downgraded Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Roth Capital restated a "buy" rating and issued a $38.00 price target on shares of Clearway Energy in a research note on Monday. Royal Bank Of Canada initiated coverage on shares of Clearway Energy in a report on Wednesday. They set an "outperform" rating and a $36.00 target price for the company. Evercore ISI initiated coverage on shares of Clearway Energy in a research note on Monday. They issued an "in-line" rating and a $34.00 price target on the stock. Finally, Jefferies Financial Group raised their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.29.

Clearway Energy Stock Up 3.1%

Shares of NYSE CWEN traded up $0.96 during mid-day trading on Wednesday, hitting $31.94. The company had a trading volume of 1,243,457 shares, compared to its average volume of 1,229,296. The company has a market capitalization of $6.46 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 1.54 and a beta of 0.89. The business's 50-day simple moving average is $29.58 and its 200 day simple moving average is $30.11. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.34. Clearway Energy has a 1-year low of $24.40 and a 1-year high of $33.22.

Clearway Energy (NYSE:CWEN - Get Free Report) last released its quarterly 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). Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The company had revenue of $392.00 million for the quarter, compared to analysts' expectations of $428.33 million. During the same period in the prior year, the business earned $0.43 EPS. The business's quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts predict that Clearway Energy will post 0.83 earnings per share for the current year.

Institutional Investors Weigh In On Clearway Energy

A number of hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Clearway Energy during the 1st quarter valued at $280,000. Exchange Traded Concepts LLC bought a new position in Clearway Energy during the first quarter valued at about $2,012,000. NBT Bank N A NY bought a new position in Clearway Energy during the first quarter worth about $71,000. Abundance Wealth Counselors boosted its position in Clearway Energy by 3.8% during the first quarter. Abundance Wealth Counselors now owns 38,534 shares of the company's stock worth $1,166,000 after purchasing an additional 1,396 shares during the period. Finally, Spirit of America Management Corp NY lifted its holdings in shares of Clearway Energy by 15.9% in the first quarter. Spirit of America Management Corp NY now owns 14,550 shares of the company's stock worth $440,000 after buying an additional 2,000 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

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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