Baird Financial Group Inc. Sells 59,276 Shares of Clearway Energy, Inc. $CWEN

Baird Financial Group Inc. lessened its holdings in shares of Clearway Energy, Inc. (NYSE:CWEN) by 24.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,205 shares of the company’s stock after selling 59,276 shares during the period. Baird Financial Group Inc.’s holdings in Clearway Energy were worth $5,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CWEN. CW Advisors LLC increased its stake in Clearway Energy by 3.6% during the 2nd quarter. CW Advisors LLC now owns 15,185 shares of the company’s stock worth $486,000 after purchasing an additional 525 shares in the last quarter. Monetary Management Group Inc. boosted its holdings in shares of Clearway Energy by 4.3% in the first quarter. Monetary Management Group Inc. now owns 14,400 shares of the company’s stock valued at $436,000 after buying an additional 600 shares during the period. Abundance Wealth Counselors increased its position in shares of Clearway Energy by 1.6% during the second quarter. Abundance Wealth Counselors now owns 39,158 shares of the company’s stock worth $1,253,000 after acquiring an additional 624 shares in the last quarter. Spirit of America Management Corp NY raised its holdings in shares of Clearway Energy by 5.2% during the second quarter. Spirit of America Management Corp NY now owns 15,300 shares of the company’s stock worth $490,000 after acquiring an additional 750 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Clearway Energy by 4.4% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 19,620 shares of the company’s stock worth $628,000 after acquiring an additional 820 shares during the period. 84.53% of the stock is currently owned by institutional investors and hedge funds.

Clearway Energy Stock Down 0.1%

Clearway Energy stock opened at $32.97 on Wednesday. The company’s 50-day moving average price is $33.43 and its two-hundred day moving average price is $31.58. The company has a quick ratio of 1.44, a current ratio of 1.54 and a debt-to-equity ratio of 1.41. The stock has a market cap of $6.72 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.48 and a beta of 0.95. Clearway Energy, Inc. has a twelve month low of $24.40 and a twelve month high of $36.89.

Clearway Energy (NYSE:CWEN) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $1.68. Clearway Energy had a return on equity of 4.96% and a net margin of 20.07%.The business had revenue of $429.00 million during the quarter, compared to the consensus estimate of $427.72 million. During the same period in the previous year, the company posted $0.31 EPS. The firm’s quarterly revenue was down 11.7% on a year-over-year basis. As a group, analysts expect that Clearway Energy, Inc. will post 0.83 EPS for the current year.

Clearway Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.4528 dividend. This represents a $1.81 dividend on an annualized basis and a yield of 5.5%. This is a positive change from Clearway Energy’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, December 1st. Clearway Energy’s payout ratio is 77.35%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen raised Clearway Energy from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. Royal Bank Of Canada assumed coverage on Clearway Energy in a research report on Wednesday, October 8th. They issued an “outperform” rating and a $36.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Clearway Energy in a research note on Wednesday, October 8th. Roth Capital upped their price target on Clearway Energy from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Finally, Evercore ISI started coverage on shares of Clearway Energy in a report on Monday, October 6th. They issued an “in-line” rating and a $34.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.86.

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.