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

Baird Financial Group Inc. cut its holdings in Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 253,292 shares of the company's stock after selling 10,181 shares during the period. Baird Financial Group Inc. owned 0.13% of Clearway Energy worth $6,586,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Mascoma Wealth Management LLC purchased a new stake in shares of Clearway Energy in the fourth quarter worth $28,000. New Age Alpha Advisors LLC purchased a new position in shares of Clearway Energy in the 4th quarter worth $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Clearway Energy in the 4th quarter worth $51,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Clearway Energy in the 3rd quarter worth $71,000. Finally, Quarry LP grew its stake in shares of Clearway Energy by 48.6% in 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. 84.53% of the stock is currently owned by institutional investors.

Clearway Energy Trading Down 0.5%

CWEN traded down $0.14 on Wednesday, reaching $28.94. 281,930 shares of the company traded hands, compared to its average volume of 869,337. Clearway Energy, Inc. has a one year low of $24.02 and a one year high of $31.09. The firm has a fifty day simple moving average of $28.99 and a two-hundred day simple moving average of $27.62. The company has a market cap of $5.85 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 1.75 and a beta of 0.89. The company has a quick ratio of 1.49, a current ratio of 1.59 and a debt-to-equity ratio of 1.20.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its 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. The business had revenue of $298.00 million for the quarter, compared to the consensus estimate of $305.74 million. Clearway Energy had a net margin of 8.94% and a return on equity of 2.28%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. As a group, equities research analysts expect 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. Investors of record on Monday, June 2nd will be paid a dividend of $0.4384 per share. This represents a $1.75 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend is Monday, June 2nd. This is a positive change from Clearway Energy's previous quarterly dividend of $0.43. Clearway Energy's payout ratio is 218.75%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Clearway Energy in a research note on Tuesday, March 25th. They issued a "buy" rating and a $38.00 price objective for the company. Roth Mkm restated a "buy" rating and issued a $34.00 target price (up previously from $33.00) on shares of Clearway Energy in a report on Tuesday, February 25th. Finally, StockNews.com upgraded shares of Clearway Energy from a "sell" rating to a "hold" rating in a report on Wednesday, March 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.71.

Clearway Energy Company Profile

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.