A History of Outperforming Analyst Forecasts and Beating the Odds: Clearway Energy Inc. (CWEN)

Clearway Energy Inc. (NYSE: CWEN) stock fell -1.08% on Thursday to $29.29 against a previous-day closing price of $29.61. With 0.62 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.84 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $29.58 whereas the lowest price it dropped to was $28.97. The 52-week range on CWEN shows that it touched its highest point at $41.79 and its lowest point at $28.75 during that stretch. It currently has a 1-year price target of $37.92. With its current market cap of 4.63 billion, CWEN has annualized dividend of $1.53 while the current yield stands at 5.21%.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CWEN was down-trending over the past week, with a drop of -4.34%, but this was down by -0.44% over a month. Three-month performance dropped to -5.42% while six-month performance fell -18.77%. The stock lost -10.59% in the past year, while it has lost -8.10% so far this year.

Float and Shares Shorts:

At present, 124.72 million CWEN shares are outstanding with a float of 81.43 million shares on hand for trading. On May 14, 2023, short shares totaled 1.96 million, which was 1.67% higher than short shares on Apr 13, 2023. In addition to Mr. Christopher S. Sotos as the firm’s Pres, CEO & Director, Ms. Sarah Rubenstein serves as its Exec. VP, CFO & Principal Accounting Officer.

Institutional Ownership:

Through their ownership of 91.30% of CWEN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.97% of CWEN, in contrast to 33.55% held by mutual funds. Shares owned by individuals account for 1.31%. As the largest shareholder in CWEN with 10.66% of the stake, The Vanguard Group, Inc. holds 8,771,423 shares worth 8,771,423. A second-largest stockholder of CWEN, BlackRock Fund Advisors, holds 7,291,442 shares, controlling over 8.86% of the firm’s shares. Newton Investment Management Nort is the third largest shareholder in CWEN, holding 2,890,484 shares or 3.51% stake. With a 2.88% stake in CWEN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,371,281 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.64% of CWEN stock, is the second-largest Mutual Fund holder. It holds 2,175,740 shares valued at 66.08 million. iShares Russell 2000 ETF holds 2.11% of the stake in CWEN, owning 1,737,611 shares worth 52.77 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CWEN reported revenue of $368.00M and operating income of $118.00M. The EBITDA in the recently reported quarter was $259.00M and diluted EPS was $4.89.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CWEN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CWEN analysts setting a high price target of $43.00 and a low target of $36.00, the average target price over the next 12 months is $38.10. Based on these targets, CWEN could surge 46.81% to reach the target high and rise by 22.91% to reach the target low. Reaching the average price target will result in a growth of 30.08% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CWEN stock several times over the past three months with 35 Buys and 17 Sells. In these transactions, 445,254 shares were bought while 437,681 shares were sold. The number of buy transactions has increased to 90 while that of sell transactions has risen to 25 over the past year. The total number of shares bought during that period was 540,301 while 477,021 shares were sold.

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