Baird Financial Group Inc. Raises Stock Holdings in Clearway Energy, Inc. $CWEN

Key Points

• Baird Financial Group increased its Clearway Energy holdings by 12.9% in the second quarter, bringing its position to 296,250 shares valued at approximately $10.1 million. Institutional investors collectively own 84.53% of CWEN.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $43.78, despite Morgan Stanley lowering its target to $58.00.
• Clearway Energy reported quarterly EPS of $1.00, well above the $0.24 consensus estimate, and raised its quarterly dividend to $0.475 per share, implying a 6.1% annualized yield.

Baird Financial Group Inc. raised its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 12.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 296,250 shares of the company's stock after purchasing an additional 33,922 shares during the quarter. Baird Financial Group Inc. owned 0.14% of Clearway Energy worth $10,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CWEN. Caitong International Asset Management Co. Ltd increased its stake in shares of Clearway Energy by 280.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 956 shares of the company's stock worth $27,000 after buying an additional 705 shares during the last quarter. National Bank of Canada FI boosted its stake in Clearway Energy by 201.9% during the 3rd quarter. National Bank of Canada FI now owns 975 shares of the company's stock valued at $28,000 after acquiring an additional 652 shares during the last quarter. Huntington National Bank boosted its stake in Clearway Energy by 92.4% during the 4th quarter. Huntington National Bank now owns 858 shares of the company's stock valued at $29,000 after acquiring an additional 412 shares during the last quarter. Allied Private Wealth LLC acquired a new position in Clearway Energy during the 2nd quarter worth $35,000. Finally, Headlands Technologies LLC acquired a new position in Clearway Energy during the 2nd quarter worth $43,000. 84.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CWEN shares. Morgan Stanley cut their target price on shares of Clearway Energy from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 18th. Zacks Research raised Clearway Energy from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Wall Street Zen upgraded Clearway Energy from a "sell" rating to a "hold" rating in a research note on Saturday, August 29th. Weiss Ratings raised Clearway Energy from a "hold (c-)" rating to a "hold (c+)" rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $38.00 target price on shares of Clearway Energy in a research report on Friday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $43.78.

Clearway Energy Stock Up 0.3%

Shares of Clearway Energy stock opened at $31.23 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.02 and a debt-to-equity ratio of 1.55. The business's 50 day simple moving average is $32.73 and its 200-day simple moving average is $36.46. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 41.09 and a beta of 0.87. Clearway Energy, Inc. has a twelve month low of $27.67 and a twelve month high of $41.74.

Clearway Energy (NYSE:CWEN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $473.92 million. Equities research analysts forecast that Clearway Energy, Inc. will post -0.5 earnings per share for the current year.

Clearway Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.475 dividend. The ex-dividend date is Tuesday, September 1st. This is an increase from Clearway Energy's previous quarterly dividend of $0.47. This represents a $1.90 annualized dividend and a dividend yield of 6.1%. Clearway Energy's dividend payout ratio (DPR) is 250.00%.

Clearway Energy Company Profile

Clearway Energy, Inc NYSE: CWEN is an independent power generation and energy infrastructure company that owns and operates a diversified portfolio of renewable and conventional energy assets in the United States. Its business is focused on producing electricity and selling energy, capacity and related services under long-term agreements with utilities, municipalities, commercial and industrial customers, and other counterparties.

The company's renewable portfolio includes wind and solar generation facilities, along with battery storage assets.

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