Clearway Energy (NYSE:CWEN) Share Price Breaks Above Two Hundred Day Moving Average – Should You Sell?

Clearway Energy, Inc. (NYSE:CWEN) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $35.56 and traded as high as $35.78. Clearway Energy shares last traded at $35.7080, with a volume of 1,957,733 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CWEN shares. Wall Street Zen upgraded shares of Clearway Energy from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Jefferies Financial Group reiterated a “buy” rating and issued a $38.00 price target on shares of Clearway Energy in a research report on Friday, September 4th. Seaport Research Partners decreased their price objective on shares of Clearway Energy from $41.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. UBS Group lowered their target price on Clearway Energy from $45.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. Finally, Zacks Research upgraded shares of Clearway Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $42.00.

Clearway Energy Stock Down 0.6%

The company has a quick ratio of 1.02, a current ratio of 1.11 and a debt-to-equity ratio of 1.55. The stock has a 50-day simple moving average of $31.12 and a 200-day simple moving average of $35.54. The firm has a market capitalization of $7.00 billion, a PE ratio of 44.84 and a beta of 0.81.

Clearway Energy (NYSE:CWEN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.76. Clearway Energy had a return on equity of 1.60% and a net margin of 5.78%. The firm had revenue of $481.00 million for the quarter, compared to analysts’ expectations of $473.92 million. Analysts forecast that Clearway Energy, Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On Clearway Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC raised its holdings in Clearway Energy by 590.5% in the third quarter. Fortitude Family Office LLC now owns 1,160 shares of the company’s stock worth $34,000 after buying an additional 992 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in shares of Clearway Energy during the second quarter valued at approximately $35,000. Covestor Ltd grew its holdings in shares of Clearway Energy by 79.6% during the third quarter. Covestor Ltd now owns 1,345 shares of the company’s stock valued at $39,000 after buying an additional 596 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Clearway Energy by 49.2% during the third quarter. Salomon & Ludwin LLC now owns 1,408 shares of the company’s stock valued at $41,000 after acquiring an additional 464 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Clearway Energy during the second quarter valued at approximately $57,000. Institutional investors own 84.53% of the company’s stock.

Clearway Energy Company Profile

Clearway Energy, Inc (NYSE:CWEN) owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its generating facilities produce electricity for utilities, commercial customers and other power purchasers under long-term agreements.

The company’s renewable energy operations include wind and utility-scale solar facilities, while its conventional power portfolio includes natural-gas generation and other dispatchable assets. Clearway also owns district energy systems that provide services such as electricity, steam and chilled water to customers in select markets.

Clearway Energy was established in 2013 as NRG Yield and adopted its current name in 2018.