Clearway Energy (NYSE:CWEN – Get Rating) had its target price cut by investment analysts at Morgan Stanley from $37.00 to $35.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 2.94% from the company’s current price.
A number of other brokerages have also recently issued reports on CWEN. StockNews.com started coverage on shares of Clearway Energy in a research report on Thursday, March 31st. They set a “hold” rating for the company. Seaport Res Ptn restated a “buy” rating on shares of Clearway Energy in a report on Friday, May 13th. Roth Capital restated a “buy” rating on shares of Clearway Energy in a report on Friday, May 27th. TheStreet downgraded shares of Clearway Energy from a “b-” rating to a “c+” rating in a report on Wednesday, June 22nd. Finally, CIBC started coverage on shares of Clearway Energy in a report on Thursday, June 9th. They issued a “neutral” rating and a $36.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.40.
Clearway Energy Price Performance
Clearway Energy stock opened at $34.00 on Thursday. Clearway Energy has a 52-week low of $27.36 and a 52-week high of $39.75. The company’s 50 day moving average is $34.29 and its two-hundred day moving average is $33.96. The firm has a market cap of $6.87 billion, a PE ratio of 260.00, a price-to-earnings-growth ratio of 7.23 and a beta of 0.64. The company has a quick ratio of 0.87, a current ratio of 0.90 and a debt-to-equity ratio of 2.22.
Clearway Energy (NYSE:CWEN – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The business had revenue of $214.00 million for the quarter, compared to analysts’ expectations of $244.91 million. Clearway Energy had a return on equity of 0.52% and a net margin of 1.27%. On average, research analysts expect that Clearway Energy will post 0.71 EPS for the current fiscal year.
Institutional Trading of Clearway Energy
Several institutional investors have recently added to or reduced their stakes in CWEN. Benjamin Edwards Inc. acquired a new stake in shares of Clearway Energy during the fourth quarter worth $28,000. AdvisorNet Financial Inc lifted its holdings in Clearway Energy by 300.0% in the 4th quarter. AdvisorNet Financial Inc now owns 800 shares of the company’s stock valued at $29,000 after acquiring an additional 600 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Clearway Energy by 67.9% in the 1st quarter. Van ECK Associates Corp now owns 851 shares of the company’s stock valued at $31,000 after acquiring an additional 344 shares during the last quarter. National Bank of Canada FI purchased a new stake in Clearway Energy during the fourth quarter valued at about $39,000. Finally, Prospera Financial Services Inc purchased a new stake in Clearway Energy during the first quarter valued at about $50,000. 34.38% of the stock is owned by institutional investors and hedge funds.
About Clearway Energy
Clearway Energy, Inc, through its subsidiaries, engages in the renewable energy businesses in the United States. It had approximately 5,000 net megawatts (MW) of installed wind and solar generation projects; and approximately 2,500 net MW of natural gas generation facilities, as well as a portfolio of district energy systems.
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