StockNews.com upgraded shares of Clearway Energy (NYSE:CWEN - Free Report) from a sell rating to a hold rating in a report issued on Wednesday morning.
CWEN has been the subject of a number of other reports. CIBC raised their price target on Clearway Energy from $33.00 to $34.00 and gave the company an "outperformer" rating in a report on Tuesday, October 22nd. BNP Paribas started coverage on shares of Clearway Energy in a research report on Tuesday, October 1st. They set an "outperform" rating and a $36.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $32.57.
Get Our Latest Analysis on Clearway Energy
Clearway Energy Stock Performance
Clearway Energy stock traded down $0.02 during trading hours on Wednesday, hitting $25.95. The stock had a trading volume of 669,479 shares, compared to its average volume of 681,847. The company has a 50-day moving average of $26.73 and a two-hundred day moving average of $27.59. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company has a market cap of $5.25 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88. Clearway Energy has a fifty-two week low of $20.63 and a fifty-two week high of $30.92.
Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The business had revenue of $486.00 million for the quarter, compared to analyst estimates of $417.55 million. During the same quarter last year, the firm posted $0.03 earnings per share. Clearway Energy's revenue was up 31.0% on a year-over-year basis. On average, equities research analysts anticipate that Clearway Energy will post 0.83 EPS for the current fiscal year.
Insider Transactions at Clearway Energy
In related news, Director Brian R. Ford sold 2,000 shares of Clearway Energy stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $26.74, for a total transaction of $53,480.00. Following the transaction, the director now owns 8,153 shares of the company's stock, valued at $218,011.22. This trade represents a 19.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Clearway Energy
Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc lifted its position in shares of Clearway Energy by 4.8% in the fourth quarter. CIBC Asset Management Inc now owns 9,074 shares of the company's stock worth $236,000 after purchasing an additional 414 shares in the last quarter. Fulton Bank N.A. increased its holdings in shares of Clearway Energy by 3.8% during the 3rd quarter. Fulton Bank N.A. now owns 12,206 shares of the company's stock worth $374,000 after acquiring an additional 449 shares during the last quarter. Congress Asset Management Co. increased its holdings in shares of Clearway Energy by 0.4% in the third quarter. Congress Asset Management Co. now owns 189,236 shares of the company's stock valued at $5,806,000 after purchasing an additional 699 shares during the last quarter. Ballentine Partners LLC raised its holdings in Clearway Energy by 5.2% in the 4th quarter. Ballentine Partners LLC now owns 15,916 shares of the company's stock valued at $414,000 after acquiring an additional 787 shares during the period. Finally, Quarry LP boosted its holdings in shares of Clearway Energy by 53.4% during the second quarter. Quarry LP now owns 2,422 shares of the company's stock worth $60,000 after acquiring an additional 843 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.
Clearway Energy Company Profile
(
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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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