Clearway Energy, Inc. (NYSE:CWEN) Stock Has Average Target Price of $42.00

Shares of Clearway Energy, Inc. (NYSE:CWEN) have earned an average recommendation of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $42.00.

Several research firms have recently weighed in on CWEN. Jefferies Financial Group reiterated a “buy” rating and issued a $38.00 price objective on shares of Clearway Energy in a research note on Friday, September 4th. Morgan Stanley cut their target price on shares of Clearway Energy from $58.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 21st. Weiss Ratings cut shares of Clearway Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, September 24th. Seaport Research Partners reduced their price target on shares of Clearway Energy from $41.00 to $40.00 and set a “buy” rating for the company in a report on Friday, October 2nd. Finally, UBS Group decreased their price target on shares of Clearway Energy from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st.

Clearway Energy Price Performance

Shares of CWEN opened at $34.50 on Wednesday. The firm has a market cap of $7.08 billion, a PE ratio of 45.40 and a beta of 0.81. Clearway Energy has a 52-week low of $28.57 and a 52-week high of $41.74. The business’s 50 day moving average price is $30.99 and its two-hundred day moving average price is $35.56. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.02 and a current ratio of 1.11.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.24 by $0.76. The company had revenue of $481.00 million during the quarter, compared to the consensus estimate of $473.92 million. Clearway Energy had a net margin of 5.78% and a return on equity of 1.60%. On average, equities analysts anticipate that Clearway Energy will post -0.25 EPS for the current year.

Institutional Trading of Clearway Energy

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. increased its position in Clearway Energy by 0.9% in the 1st quarter. Pacer Advisors Inc. now owns 844,221 shares of the company’s stock valued at $33,169,000 after buying an additional 7,215 shares in the last quarter. Tectonic Advisors LLC raised its stake in Clearway Energy by 12.8% during the 3rd quarter. Tectonic Advisors LLC now owns 567,137 shares of the company’s stock worth $16,600,000 after buying an additional 64,439 shares during the period. RWC Asset Management LLP boosted its holdings in Clearway Energy by 1.9% in the third quarter. RWC Asset Management LLP now owns 512,440 shares of the company’s stock worth $14,999,000 after acquiring an additional 9,660 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in Clearway Energy by 12.9% in the second quarter. Baird Financial Group Inc. now owns 296,250 shares of the company’s stock worth $10,126,000 after acquiring an additional 33,922 shares in the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in Clearway Energy by 31.3% in the first quarter. Sanctuary Advisors LLC now owns 243,587 shares of the company’s stock worth $9,571,000 after acquiring an additional 58,138 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE:CWEN) owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company’s renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.