Clearway Energy (NYSE:CWEN) Raised to Strong-Buy at ValuEngine

Clearway Energy (NYSE:CWEN) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday, ValuEngine reports.

A number of other brokerages also recently issued reports on CWEN. Evercore ISI reissued a “hold” rating and set a $16.00 target price on shares of Clearway Energy in a research note on Sunday. Bank of America raised Clearway Energy from a “neutral” rating to a “buy” rating in a research note on Friday, July 19th. Finally, Zacks Investment Research raised Clearway Energy from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Clearway Energy presently has a consensus rating of “Buy” and an average target price of $15.33.

CWEN traded up $0.57 on Tuesday, hitting $17.91. 497,719 shares of the company traded hands, compared to its average volume of 861,939. The stock’s 50 day moving average is $17.47. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.23 and a quick ratio of 0.21. The firm has a market cap of $3.37 billion, a PE ratio of 38.93, a PEG ratio of 3.95 and a beta of 1.23. Clearway Energy has a 12-month low of $12.12 and a 12-month high of $20.75.

Clearway Energy (NYSE:CWEN) last issued its earnings results on Tuesday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.62). The business had revenue of $284.00 million for the quarter, compared to analysts’ expectations of $316.49 million. Clearway Energy had a negative return on equity of 4.14% and a negative net margin of 8.90%. The business’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period last year, the company posted $0.77 earnings per share. Equities analysts expect that Clearway Energy will post 0.44 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Reilly Financial Advisors LLC acquired a new stake in shares of Clearway Energy in the 1st quarter worth approximately $28,000. Quadrant Capital Group LLC grew its holdings in shares of Clearway Energy by 903.6% in the 1st quarter. Quadrant Capital Group LLC now owns 3,352 shares of the company’s stock worth $50,000 after acquiring an additional 3,018 shares during the period. NumerixS Investment Technologies Inc grew its holdings in shares of Clearway Energy by 366.7% in the 1st quarter. NumerixS Investment Technologies Inc now owns 9,800 shares of the company’s stock worth $146,000 after acquiring an additional 7,700 shares during the period. Quantamental Technologies LLC acquired a new stake in shares of Clearway Energy in the 1st quarter worth approximately $157,000. Finally, Aveo Capital Partners LLC acquired a new stake in shares of Clearway Energy in the 1st quarter worth approximately $162,000. 31.60% of the stock is owned by institutional investors and hedge funds.

Clearway Energy Company Profile

Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable energy and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2018, it had contracted generation portfolio of 5,272 net megawatts (MWs) of wind, solar, and natural gas-fired power generation facilities, as well as district energy systems.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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