Clearway Energy (NYSE:CWEN) Rating Increased to Strong-Buy at Cibc Captl Mkts

Clearway Energy (NYSE:CWEN) was upgraded by Cibc Captl Mkts from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

CWEN has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Clearway Energy in a report on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating and set a $39.00 price objective on shares of Clearway Energy in a research report on Wednesday, December 10th. Royal Bank Of Canada began coverage on Clearway Energy in a report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 target price for the company. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Finally, Evercore ISI initiated coverage on Clearway Energy in a research report on Monday, October 6th. They issued an “in-line” rating and a $34.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

Clearway Energy Price Performance

NYSE:CWEN opened at $32.59 on Tuesday. Clearway Energy has a 12 month low of $24.40 and a 12 month high of $36.89. The firm has a market cap of $6.64 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 0.37 and a beta of 0.95. The stock has a 50 day moving average of $33.64 and a two-hundred day moving average of $31.66. The company has a current ratio of 1.54, a quick ratio of 1.44 and a debt-to-equity ratio of 1.41.

Clearway Energy (NYSE:CWEN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.68. The firm had revenue of $429.00 million for the quarter, compared to the consensus estimate of $427.72 million. Clearway Energy had a net margin of 20.07% and a return on equity of 4.96%. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. On average, analysts expect that Clearway Energy will post 0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearway Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its stake in Clearway Energy by 280.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company’s stock worth $27,000 after purchasing an additional 705 shares during the last quarter. National Bank of Canada FI raised its holdings in Clearway Energy by 201.9% during the third quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares in the last quarter. Mather Group LLC. acquired a new stake in Clearway Energy during the third quarter worth approximately $29,000. Hilltop National Bank purchased a new stake in shares of Clearway Energy during the 2nd quarter worth approximately $35,000. Finally, Headlands Technologies LLC acquired a new position in shares of Clearway Energy in the 2nd quarter valued at $43,000. 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.