Clearway Energy (NYSE:CWEN) Stock Rating Lowered by Goldman Sachs Group

Clearway Energy (NYSE:CWEN) was downgraded by Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report issued on Tuesday, The Fly reports. They currently have a $26.00 price target on the stock. Goldman Sachs Group’s target price indicates a potential upside of 13.04% from the stock’s previous close.

Other analysts have also issued reports about the stock. TheStreet raised shares of Clearway Energy from a “d+” rating to a “c” rating in a research note on Monday, June 15th. Morgan Stanley upped their price target on shares of Clearway Energy from $22.00 to $26.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 17th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $21.60.

CWEN stock opened at $23.00 on Tuesday. Clearway Energy has a 12 month low of $16.12 and a 12 month high of $25.09. The firm has a 50 day simple moving average of $22.22 and a 200 day simple moving average of $20.86. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.32 and a quick ratio of 0.30.

Clearway Energy (NYSE:CWEN) last released its earnings results on Thursday, May 7th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.22). Clearway Energy had a negative net margin of 1.86% and a negative return on equity of 0.82%. The business had revenue of $258.00 million for the quarter, compared to analyst estimates of $256.01 million. During the same period in the prior year, the company earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts expect that Clearway Energy will post 1.52 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new position in shares of Clearway Energy during the 4th quarter worth $28,000. GQ Asset Management LLC acquired a new position in shares of Clearway Energy during the 1st quarter worth $53,000. Penserra Capital Management LLC acquired a new position in shares of Clearway Energy during the 4th quarter worth $56,000. Point72 Hong Kong Ltd acquired a new position in shares of Clearway Energy during the 4th quarter worth $136,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Clearway Energy during the 4th quarter worth $162,000. Hedge funds and other institutional investors own 35.33% 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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Analyst Recommendations for Clearway Energy (NYSE:CWEN)

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