Baird Financial Group Inc. Cuts Position in Clearway Energy, Inc. (NYSE:CWEN)

Baird Financial Group Inc. decreased its holdings in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 253,292 shares of the company's stock after selling 10,181 shares during the quarter. Baird Financial Group Inc. owned 0.13% of Clearway Energy worth $6,586,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Mascoma Wealth Management LLC bought a new stake in shares of Clearway Energy in the 4th quarter worth $28,000. New Age Alpha Advisors LLC bought a new stake in Clearway Energy in the 4th quarter worth about $31,000. SBI Securities Co. Ltd. purchased a new stake in Clearway Energy in the 4th quarter valued at about $51,000. Wilmington Savings Fund Society FSB bought a new position in shares of Clearway Energy during the 3rd quarter worth approximately $71,000. Finally, Quarry LP lifted its position in shares of Clearway Energy by 48.6% during the 4th quarter. Quarry LP now owns 5,454 shares of the company's stock worth $142,000 after buying an additional 1,783 shares in the last quarter. Institutional investors and hedge funds own 84.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CWEN shares. Roth Mkm reissued a "buy" rating and issued a $34.00 price objective (up previously from $33.00) on shares of Clearway Energy in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of Clearway Energy in a report on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price target on the stock. Finally, StockNews.com upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Clearway Energy presently has a consensus rating of "Moderate Buy" and an average price target of $34.71.

Clearway Energy Stock Performance

CWEN traded up $0.18 during trading hours on Friday, hitting $28.92. The stock had a trading volume of 743,195 shares, compared to its average volume of 873,234. The stock has a market cap of $5.85 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. Clearway Energy, Inc. has a 1 year low of $24.02 and a 1 year high of $31.09. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20. The company's fifty day simple moving average is $28.93 and its 200 day simple moving average is $27.60.

Clearway Energy (NYSE:CWEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.28. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company had revenue of $298.00 million for the quarter, compared to analysts' expectations of $305.74 million. During the same period in the prior year, the company posted ($0.02) EPS. Clearway Energy's revenue was up 13.3% compared to the same quarter last year. Equities analysts anticipate that Clearway Energy, Inc. will post 0.83 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.4384 dividend. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. This represents a $1.75 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date is Monday, June 2nd. Clearway Energy's dividend payout ratio (DPR) is 218.75%.

About Clearway Energy

Clearway Energy, Inc operates in the renewable energy business in the United States. The company operates through Conventional and Renewables segments. It has approximately 6,000 net MW of installed wind, solar, and energy generation projects; and approximately 2,500 net MW of natural gas-fired generation facilities.