Last Updated: 08 Nov 2024
Executive Summary
Clearway Energy Inc Class C (CWEN) is a renewable energy company with a market capitalization of $5.29 billion. The company's financial performance has been strong, with revenue and earnings growing steadily in recent years. CWEN is currently trading at $27.67, below its 52-week high of $30.92. The company's fundamentals are solid, with a strong balance sheet and positive cash flow. Technically, CWEN is in a downtrend, but it is showing signs of bottoming out. The short-term outlook for CWEN is mixed, but the long-term outlook is positive.
Company Overview
Clearway Energy Inc Class C is a renewable energy company that owns and operates a portfolio of wind, solar, and thermal generation assets. The company's assets are located in the United States, Canada, and Europe. CWEN is one of the largest renewable energy companies in the world, with a total installed capacity of over 7,000 megawatts. The company's customers include utilities, municipalities, and corporations.
Fundamental Analysis
CWEN's financial performance has been strong in recent years. Revenue has grown from $1.1 billion in 2017 to $1.36 billion in 2023. Net income has also grown steadily, from $217 million in 2017 to $276 million in 2023. The company's balance sheet is also strong, with total assets of $10.5 billion and total debt of $4.9 billion. CWEN has a positive cash flow from operations, which provides the company with financial flexibility.
Technical Analysis
CWEN is currently trading at $27.67, below its 52-week high of $30.92. The stock has been in a downtrend since early 2023, but it is showing signs of bottoming out. The 50-day moving average is currently at $28.38, and the 200-day moving average is at $25.77. The relative strength index (RSI) is currently at 35.5, which is in oversold territory. This suggests that CWEN may be due for a rebound.
Short Term Outlook
The short-term outlook for CWEN is mixed. The stock is currently in a downtrend, but it is showing signs of bottoming out. The RSI is in oversold territory, which suggests that CWEN may be due for a rebound. However, the overall market environment is uncertain, and there is no guarantee that CWEN will continue to rise.
Long Term Outlook
The long-term outlook for CWEN is positive. The company is a leader in the renewable energy industry, and it is well-positioned to benefit from the growing demand for clean energy. CWEN has a strong balance sheet and a positive cash flow, which provides the company with financial flexibility. The company's management team is also experienced and well-respected.
Analyst Recommendations
Analysts are generally positive on CWEN. The average analyst rating is "Buy," and the average analyst target price is $32.00. This suggests that analysts believe that CWEN is a good investment for the long term.
