Zacks Investment Research upgraded shares of Clearway Energy (NYSE:CWEN) from a hold rating to a buy rating in a report issued on Friday morning, Zacks.com reports. The firm currently has $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 analysts have also recently issued research 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 cut Public Service Enterprise Group from a buy rating to a neutral rating and set a $65.00 target price on the stock. in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $15.00.

Shares of NYSE:CWEN opened at $18.05 on Friday. The company has a fifty day moving average of $16.77. Clearway Energy has a fifty-two week low of $12.12 and a fifty-two week high of $20.75. The company has a market capitalization of $3.45 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.22. The company has a quick ratio of 0.23, a current ratio of 0.26 and a debt-to-equity ratio of 2.05.

Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.20). Clearway Energy had a net margin of 1.15% and a return on equity of 0.53%. The company had revenue of $217.00 million during the quarter, compared to the consensus estimate of $230.11 million. During the same quarter last year, the company earned $0.16 earnings per share. The business’s revenue was down 3.6% on a year-over-year basis. Equities research analysts forecast that Clearway Energy will post 1.51 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in CWEN. FMR LLC grew its holdings in shares of Clearway Energy by 37.7% during the fourth quarter. FMR LLC now owns 5,972,339 shares of the company’s stock worth $103,023,000 after purchasing an additional 1,635,971 shares during the last quarter. Ecofin Ltd. grew its holdings in shares of Clearway Energy by 48.3% during the fourth quarter. Ecofin Ltd. now owns 433,010 shares of the company’s stock worth $7,469,000 after purchasing an additional 141,053 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Clearway Energy during the first quarter worth $1,889,000. Reaves W H & Co. Inc. grew its holdings in shares of Clearway Energy by 10.0% during the first quarter. Reaves W H & Co. Inc. now owns 1,108,419 shares of the company’s stock worth $16,748,000 after purchasing an additional 101,000 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Clearway Energy by 13.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 783,852 shares of the company’s stock worth $11,843,000 after purchasing an additional 95,719 shares during the last quarter. Institutional investors own 31.58% of the company’s stock.

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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