Clearway Energy (NYSE:CWEN) Stock Rating Upgraded by Truist Financial

Clearway Energy (NYSE:CWENGet Free Report) was upgraded by equities research analysts at Truist Financial to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded Clearway Energy from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Zacks Research cut Clearway Energy from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Morgan Stanley upped their price objective on Clearway Energy from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Clearway Energy from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, UBS Group lifted their target price on shares of Clearway Energy from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Read Our Latest Report on Clearway Energy

Clearway Energy Stock Up 3.8%

Shares of CWEN opened at $34.45 on Monday. 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 has a 52 week low of $27.67 and a 52 week high of $41.74. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 861.44 and a beta of 0.89. The stock has a fifty day moving average of $37.18 and a 200-day moving average of $37.53.

Clearway Energy (NYSE:CWENGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.90). Clearway Energy had a return on equity of 0.04% and a net margin of 0.13%.The firm had revenue of $354.00 million for the quarter, compared to the consensus estimate of $340.75 million. As a group, sell-side analysts anticipate that Clearway Energy will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearway Energy

Institutional investors have recently made changes to their positions in the stock. Lazard Freres Gestion S.A.S. lifted its holdings in shares of Clearway Energy by 1.4% in the fourth quarter. Lazard Freres Gestion S.A.S. now owns 19,770 shares of the company’s stock valued at $657,000 after purchasing an additional 270 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Clearway Energy by 2.0% during the fourth quarter. Ballentine Partners LLC now owns 17,096 shares of the company’s stock valued at $569,000 after buying an additional 333 shares during the last quarter. Courier Capital LLC grew its holdings in Clearway Energy by 1.2% during the fourth quarter. Courier Capital LLC now owns 33,193 shares of the company’s stock worth $1,104,000 after buying an additional 385 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Clearway Energy by 1.4% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 28,500 shares of the company’s stock worth $948,000 after buying an additional 400 shares in the last quarter. Finally, Huntington National Bank raised its position in Clearway Energy by 92.4% in the 4th quarter. Huntington National Bank now owns 858 shares of the company’s stock valued at $29,000 after buying an additional 412 shares during the last quarter. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Company Profile

(Get Free Report)

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.

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