Clearway Energy (NYSE:CWEN) Coverage Initiated at Royal Bank Of Canada

Key Points

• The Royal Bank of Canada has upgraded Clearway Energy from a "sector perform" rating to a "moderate buy" rating, reflecting positive sentiment towards the stock.
• Analysts have mixed views on Clearway Energy, with five rating it as a Buy, while others have issued Hold and Sell ratings, leading to a consensus rating of "Moderate Buy" with a price target of $36.29.
• Clearway Energy reported quarterly earnings of $0.28 per share, missing expectations of $0.67, but demonstrated a 7.1% year-over-year revenue increase.

Analysts at Royal Bank Of Canada initiated coverage on shares of Clearway Energy (NYSE:CWEN - Get Free Report) in a report issued on Wednesday, Marketbeat reports. The brokerage set an "outperform" rating and a $36.00 price target on the stock. Royal Bank Of Canada's price target suggests a potential upside of 13.74% from the stock's previous close.

CWEN has been the subject of several other research reports. Jefferies Financial Group upped their price target on shares of Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Evercore ISI initiated coverage on shares of Clearway Energy in a research report on Monday. They issued an "in-line" rating and a $34.00 target price for the company. Roth Capital reiterated a "buy" rating and issued a $38.00 target price on shares of Clearway Energy in a research report on Monday. Wall Street Zen downgraded shares of Clearway Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, CIBC downgraded shares of Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price for the company. in a research report on Saturday, July 19th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.29.

Clearway Energy Stock Down 0.9%

Shares of NYSE:CWEN opened at $31.65 on Wednesday. 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 company has a market cap of $6.40 billion, a PE ratio of 48.69, a price-to-earnings-growth ratio of 1.25 and a beta of 0.89. Clearway Energy has a 52 week low of $24.40 and a 52 week high of $33.22. The firm has a 50 day simple moving average of $29.56 and a 200 day simple moving average of $30.12.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly 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 firm had revenue of $392.00 million during the quarter, compared to analysts' expectations of $428.33 million. Clearway Energy had a net margin of 5.31% and a return on equity of 1.37%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. As a group, research analysts expect that Clearway Energy will post 0.83 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Alpine Bank Wealth Management acquired a new position in shares of Clearway Energy during the 1st quarter worth $27,000. Hilltop National Bank acquired a new position in shares of Clearway Energy during the 2nd quarter worth $35,000. Headlands Technologies LLC acquired a new position in shares of Clearway Energy during the 2nd quarter worth $43,000. Tsfg LLC acquired a new position in shares of Clearway Energy during the 1st quarter worth $61,000. Finally, NBT Bank N A NY acquired a new position in Clearway Energy in the 1st quarter valued at $71,000. Institutional investors and hedge funds 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.