Clearway Energy (NYSE:CWEN) Sets New 1-Year High – Here’s Why

Clearway Energy, Inc. (NYSE:CWEN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $41.36 and last traded at $41.3290, with a volume of 28417 shares changing hands. The stock had previously closed at $40.78.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen upgraded Clearway Energy from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Zacks Research lowered Clearway Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. UBS Group restated a “buy” rating and set a $39.00 price target on shares of Clearway Energy in a research report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st. Finally, Roth Mkm lifted their target price on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.71.

Clearway Energy Price Performance

The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. The company’s 50-day simple moving average is $34.99 and its 200 day simple moving average is $32.74. The company has a market capitalization of $8.37 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.54 and a beta of 0.94.

Institutional Trading of Clearway Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clearbridge Investments LLC raised its stake in Clearway Energy by 26.7% during the 4th quarter. Clearbridge Investments LLC now owns 4,656,937 shares of the company’s stock valued at $154,890,000 after purchasing an additional 981,488 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Clearway Energy by 1,116.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 429,912 shares of the company’s stock valued at $13,757,000 after purchasing an additional 394,579 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in Clearway Energy in the 3rd quarter valued at $6,473,000. Nordea Investment Management AB lifted its holdings in Clearway Energy by 325.3% during the 2nd quarter. Nordea Investment Management AB now owns 245,614 shares of the company’s stock valued at $7,747,000 after purchasing an additional 187,861 shares during the last quarter. Finally, Capula Management Ltd bought a new position in shares of Clearway Energy in the third quarter valued at approximately $4,646,000. Institutional investors and hedge funds own 84.53% of the company’s stock.

About Clearway Energy

Clearway Energy Group (NYSE: CWEN) is a U.S.-based energy company specializing in the ownership, operation and development of clean and conventional power generation assets. The company’s portfolio spans utility-scale wind and solar farms, biogas and natural gas-fired thermal facilities, as well as distributed generation projects such as rooftop solar and energy storage. Clearway’s generation assets are largely underpinned by long-term power purchase agreements and service contracts with creditworthy counterparties, enabling stable, predictable cash flows.

Originally launched in 2013 as NRG Yield and rebranded to Clearway Energy in 2018 following a strategic sponsorship change, the business has grown into one of the largest independent renewable energy platforms in the United States.