CIBC Begins Coverage on Clearway Energy (NYSE:CWEN)

Investment analysts at CIBC began coverage on shares of Clearway Energy (NYSE:CWENGet Rating) in a research note issued to investors on Thursday, The Fly reports. The firm set a “neutral” rating on the stock.

Several other brokerages have also recently weighed in on CWEN. StockNews.com started coverage on Clearway Energy in a report on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet upgraded Clearway Energy from a “c” rating to a “b-” rating in a research note on Tuesday, May 31st. Seaport Res Ptn restated a “buy” rating on shares of Clearway Energy in a research note on Friday, May 13th. Finally, Roth Capital restated a “buy” rating on shares of Clearway Energy in a research note on Friday, May 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Clearway Energy has an average rating of “Hold” and a consensus price target of $36.20.

Clearway Energy stock traded down $1.00 during mid-day trading on Thursday, hitting $36.13. The company’s stock had a trading volume of 936,727 shares, compared to its average volume of 679,886. The company has a 50 day moving average of $33.74 and a 200-day moving average of $34.44. The stock has a market cap of $7.30 billion, a PE ratio of 277.92, a P/E/G ratio of 7.77 and a beta of 0.67. The company has a debt-to-equity ratio of 2.22, a quick ratio of 0.87 and a current ratio of 0.90. Clearway Energy has a one year low of $25.39 and a one year high of $39.75.

Clearway Energy (NYSE:CWENGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.16). The business had revenue of $214.00 million during the quarter, compared to the consensus estimate of $244.91 million. Clearway Energy had a net margin of 1.27% and a return on equity of 0.52%. On average, equities research analysts forecast that Clearway Energy will post 0.72 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. acquired a new stake in Clearway Energy during the fourth quarter worth about $28,000. AdvisorNet Financial Inc grew its holdings in Clearway Energy by 300.0% during the fourth quarter. AdvisorNet Financial Inc now owns 800 shares of the company’s stock worth $29,000 after acquiring an additional 600 shares during the period. Van ECK Associates Corp grew its holdings in Clearway Energy by 67.9% during the first quarter. Van ECK Associates Corp now owns 851 shares of the company’s stock worth $31,000 after acquiring an additional 344 shares during the period. National Bank of Canada FI acquired a new stake in Clearway Energy during the fourth quarter worth about $39,000. Finally, Prospera Financial Services Inc acquired a new stake in Clearway Energy during the first quarter worth about $50,000. 34.38% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Company Profile (Get Rating)

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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