Clearway Energy (NYSE:CWEN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Clearway Energy (NYSE:CWEN) from a hold rating to a buy rating in a research report report published on Friday morning, Zacks.com reports. They currently have $19.00 target price on the stock.

According to Zacks, “In the last six months shares of Clearway Energy have outperformed its industry. Clearway Energy is poised to gain from long-lived renewable assets. Focus on North American assets saves the company from foreign-exchange fluctuations and sovereign risks. The strategic acquisition of assets and planned capital expenditure to further expand renewable generation will help the company to maintain its generation portfolio in compliance with environmental regulations. However, Clearway Energy generates a substantial volume of electricity from renewable sources, subject to favorable weather conditions that could not be assured always. Dependence on performance of third-party transmission lines may impact its performance. High debt level of the company is a concern. “

Other equities research analysts have also issued reports about the company. ValuEngine upgraded Ultrapar Participacoes from a strong sell rating to a sell rating in a report on Tuesday, June 4th. Bank of America lowered Public Service Enterprise Group from a buy rating to a neutral rating and set a $65.00 target price for the company. in a report on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of Hold and an average price target of $15.00.

CWEN opened at $18.05 on Friday. The stock has a 50 day moving average of $16.77. Clearway Energy has a twelve month low of $12.12 and a twelve month high of $20.75. The company has a current ratio of 0.26, a quick ratio of 0.23 and a debt-to-equity ratio of 2.05. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 39.24, a P/E/G ratio of 1.18 and a beta of 1.22.

Clearway Energy (NYSE:CWEN) last posted its earnings results on Tuesday, May 7th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.20). Clearway Energy had a return on equity of 0.53% and a net margin of 1.15%. The company had revenue of $217.00 million during the quarter, compared to analyst estimates of $230.11 million. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts expect that Clearway Energy will post 1.51 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP lifted its holdings in Clearway Energy by 66.8% in the 4th quarter. Two Sigma Investments LP now owns 200,476 shares of the company’s stock worth $3,458,000 after purchasing an additional 80,295 shares during the last quarter. W.E. Donoghue & Co. LLC acquired a new position in shares of Clearway Energy during the first quarter worth approximately $1,018,000. Squarepoint Ops LLC lifted its holdings in shares of Clearway Energy by 11.6% during the fourth quarter. Squarepoint Ops LLC now owns 22,998 shares of the company’s stock worth $397,000 after buying an additional 2,398 shares during the last quarter. Winslow Evans & Crocker Inc. lifted its holdings in shares of Clearway Energy by 14.8% during the first quarter. Winslow Evans & Crocker Inc. now owns 23,986 shares of the company’s stock worth $362,000 after buying an additional 3,084 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in shares of Clearway Energy during the first quarter worth approximately $157,000. Hedge funds and other institutional investors own 31.58% of the company’s stock.

About Clearway Energy

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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