Clearway Energy, Inc. (NYSE:CWEN) Receives $37.71 Consensus PT from Analysts

Clearway Energy, Inc. (NYSE:CWEN) has been given an average rating of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $37.7143.

A number of equities research analysts have recently issued reports on CWEN shares. Royal Bank Of Canada began coverage on shares of Clearway Energy in a report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 target price on the stock. Roth Mkm boosted their price target on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. UBS Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Clearway Energy in a research report on Wednesday, December 10th. CIBC upgraded Clearway Energy from a “neutral” rating to a “sector outperform” rating and lifted their target price for the stock from $37.00 to $38.00 in a research note on Tuesday, December 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, January 21st.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Synergy Asset Management LLC acquired a new stake in shares of Clearway Energy during the 3rd quarter worth $6,473,000. Nordea Investment Management AB increased its stake in shares of Clearway Energy by 33.6% in the 3rd quarter. Nordea Investment Management AB now owns 328,235 shares of the company’s stock valued at $9,250,000 after purchasing an additional 82,621 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Clearway Energy in the 3rd quarter valued at $1,244,000. AXQ Capital LP raised its holdings in shares of Clearway Energy by 130.1% during the 2nd quarter. AXQ Capital LP now owns 19,919 shares of the company’s stock worth $637,000 after buying an additional 11,264 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Clearway Energy during the 2nd quarter worth $356,000. 84.53% of the stock is owned by institutional investors.

Clearway Energy Trading Up 1.0%

NYSE CWEN opened at $37.30 on Monday. The company has a market cap of $7.60 billion, a PE ratio of 15.94, a PEG ratio of 1.40 and a beta of 0.95. 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 has a 12 month low of $25.55 and a 12 month high of $37.69. The stock has a 50 day moving average of $34.24 and a 200-day moving average of $32.32.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $1.68. The business 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 firm’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 earnings per share. On average, equities research analysts anticipate that Clearway Energy will post 0.83 EPS for the current fiscal year.

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.