Clearway Energy (NYSE:CWEN) Upgraded at Truist Financial

Clearway Energy (NYSE:CWEN) was upgraded by analysts at Truist Financial to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also recently commented on CWEN. Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Clearway Energy in a report on Thursday, April 9th. Wall Street Zen upgraded shares of Clearway Energy from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings lowered Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 11th. UBS Group raised their target price on Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Zacks Research downgraded Clearway Energy from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Clearway Energy has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Clearway Energy Trading Up 3.8%

Clearway Energy stock opened at $34.45 on Monday. The business has a 50-day simple moving average of $37.18 and a two-hundred day simple moving average of $37.53. The company has a market cap of $7.07 billion, a P/E ratio of 861.44 and a beta of 0.89. Clearway Energy has a 52-week low of $27.67 and a 52-week high of $41.74. The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.90). The business had revenue of $354.00 million for the quarter, compared to analysts’ expectations of $340.75 million. Clearway Energy had a net margin of 0.13% and a return on equity of 0.04%. Analysts predict that Clearway Energy will post -0.87 EPS for the current year.

Hedge Funds Weigh In On Clearway Energy

Large investors have recently made changes to their positions in the business. Huntington National Bank grew its position in shares of Clearway Energy by 92.4% during the fourth quarter. Huntington National Bank now owns 858 shares of the company’s stock worth $29,000 after purchasing an additional 412 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Clearway Energy by 280.9% in the 3rd 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 in the last quarter. National Bank of Canada FI boosted its stake in Clearway Energy by 201.9% in the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company’s stock worth $28,000 after purchasing an additional 652 shares during the period. Allied Private Wealth LLC bought a new position in Clearway Energy in the 2nd quarter worth approximately $35,000. Finally, Geneos Wealth Management Inc. grew its holdings in Clearway Energy by 94.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,235 shares of the company’s stock valued at $41,000 after buying an additional 600 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Clearway Energy Company Profile

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.