Clearway Energy (NYSE:CWEN) Now Covered by Deutsche Bank Aktiengesellschaft

Equities researchers at Deutsche Bank Aktiengesellschaft began coverage on shares of Clearway Energy (NYSE:CWEN - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $38.00 price target on the stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 26.00% from the company's previous close.

A number of other analysts also recently weighed in on the stock. Roth Mkm reissued a "buy" rating and set a $34.00 price target (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. StockNews.com raised shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.71.

Clearway Energy Stock Performance

NYSE:CWEN traded up $0.09 during mid-day trading on Tuesday, reaching $30.16. The stock had a trading volume of 1,870,381 shares, compared to its average volume of 864,492. Clearway Energy has a twelve month low of $21.72 and a twelve month high of $30.92. The business has a 50 day simple moving average of $27.40 and a 200 day simple moving average of $27.59. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 1.75 and a beta of 0.92. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.49 and a current ratio of 1.59.

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Clearway Energy (NYSE:CWEN - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.10). The company had revenue of $256.00 million during the quarter, compared to analysts' expectations of $299.73 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. On average, analysts expect that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Institutional Trading of Clearway Energy

Several hedge funds have recently added to or reduced their stakes in CWEN. Tortoise Capital Advisors L.L.C. raised its holdings in Clearway Energy by 7.1% during the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 2,798,918 shares of the company's stock worth $72,772,000 after buying an additional 186,544 shares during the period. RWC Asset Management LLP increased its position in shares of Clearway Energy by 105.8% during the fourth quarter. RWC Asset Management LLP now owns 1,249,232 shares of the company's stock worth $32,480,000 after acquiring an additional 642,322 shares in the last quarter. abrdn plc raised its holdings in shares of Clearway Energy by 30.7% during the fourth quarter. abrdn plc now owns 602,700 shares of the company's stock worth $15,761,000 after acquiring an additional 141,500 shares during the period. Northwest & Ethical Investments L.P. raised its holdings in shares of Clearway Energy by 2.5% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 579,804 shares of the company's stock worth $15,075,000 after acquiring an additional 14,296 shares during the period. Finally, King Luther Capital Management Corp boosted its stake in Clearway Energy by 2,840.3% in the 4th quarter. King Luther Capital Management Corp now owns 543,950 shares of the company's stock worth $14,143,000 after purchasing an additional 525,450 shares during the period. Institutional investors and hedge funds own 84.53% of the company's stock.

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.