Baird Financial Group Inc. Sells 9,811 Shares of Clearway Energy, Inc. $CWEN

Key Points

• Baird Financial Group Inc. reduced its holdings in Clearway Energy by 3.9%, selling 9,811 shares during the first quarter, and now owns 243,481 shares valued at approximately $7.37 million.
• Clearway Energy experienced a significant earnings miss in its latest report, posting $0.28 EPS compared to the expected $0.67, while quarterly revenue was down from estimates at $392 million.
• The company declared a quarterly dividend increase to $0.4456, representing a 6.2% dividend yield, and a dividend payout ratio of 269.23%.

Baird Financial Group Inc. trimmed its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 243,481 shares of the company's stock after selling 9,811 shares during the quarter. Baird Financial Group Inc. owned 0.12% of Clearway Energy worth $7,370,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of CWEN. Stifel Financial Corp grew its stake in shares of Clearway Energy by 177.0% during the 4th quarter. Stifel Financial Corp now owns 24,990 shares of the company's stock worth $650,000 after acquiring an additional 15,968 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Clearway Energy by 63.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 20,032 shares of the company's stock worth $521,000 after acquiring an additional 7,762 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Clearway Energy during the 4th quarter worth approximately $632,000. Cary Street Partners Financial LLC bought a new position in shares of Clearway Energy during the 4th quarter worth approximately $375,000. Finally, Bridgefront Capital LLC grew its stake in shares of Clearway Energy by 47.6% during the 4th quarter. Bridgefront Capital LLC now owns 14,001 shares of the company's stock worth $364,000 after acquiring an additional 4,514 shares in the last quarter. 84.53% of the stock is owned by institutional investors.

Clearway Energy Stock Up 0.1%

CWEN opened at $28.69 on Thursday. Clearway Energy, Inc. has a fifty-two week low of $24.40 and a fifty-two week high of $33.22. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.34 and a current ratio of 1.42. The company has a market capitalization of $5.80 billion, a P/E ratio of 44.13, a P/E/G ratio of 1.01 and a beta of 0.87. The stock has a fifty day moving average of $31.16 and a 200-day moving average of $29.95.

Clearway Energy (NYSE:CWEN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.39). Clearway Energy had a return on equity of 1.37% and a net margin of 5.31%.The firm had revenue of $392.00 million for the quarter, compared to analyst estimates of $428.33 million. During the same period in the prior year, the business posted $0.43 EPS. The firm's quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $0.4456 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Clearway Energy's previous quarterly dividend of $0.44. This represents a $1.78 dividend on an annualized basis and a dividend yield of 6.2%. Clearway Energy's dividend payout ratio (DPR) is 269.23%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CWEN. CIBC downgraded Clearway Energy from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective for the company. in a report on Saturday, July 19th. Cibc World Mkts downgraded Clearway Energy from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. Jefferies Financial Group increased their price objective on Clearway Energy from $37.00 to $39.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen downgraded Clearway Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.40.

Clearway Energy 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.

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