Baird Financial Group Inc. Purchases New Position in Clearway Energy Inc (CWEN)
Baird Financial Group Inc. purchased a new position in shares of Clearway Energy Inc (NYSE:CWEN) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 191,306 shares of the company’s stock, valued at approximately $3,688,000. Baird Financial Group Inc. owned about 0.10% of Clearway Energy as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Kayne Anderson Capital Advisors LP bought a new stake in Clearway Energy during the 3rd quarter valued at $107,000. Trexquant Investment LP bought a new stake in Clearway Energy during the 3rd quarter valued at $323,000. FMR LLC bought a new stake in Clearway Energy during the 3rd quarter valued at $83,475,000. Grand Jean Capital Management Inc. bought a new stake in Clearway Energy during the 3rd quarter valued at $310,000. Finally, CQS Cayman LP bought a new stake in Clearway Energy during the 3rd quarter valued at $4,489,000. 26.83% of the stock is owned by hedge funds and other institutional investors.
In related news, major shareholder Infrastructure Investor Global purchased 59,727 shares of the business’s stock in a transaction dated Thursday, November 8th. The shares were acquired at an average cost of $19.75 per share, for a total transaction of $1,179,608.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.
Shares of NYSE:CWEN opened at $18.23 on Friday. Clearway Energy Inc has a 12-month low of $15.55 and a 12-month high of $20.75. The firm has a market capitalization of $3.50 billion, a PE ratio of 22.51, a P/E/G ratio of 0.49 and a beta of 1.80. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 2.07.
Clearway Energy (NYSE:CWEN) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.33). Clearway Energy had a net margin of 4.32% and a return on equity of 6.01%. The company had revenue of $292.00 million during the quarter, compared to analysts’ expectations of $295.37 million. On average, equities research analysts forecast that Clearway Energy Inc will post 1.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a $0.331 dividend. The ex-dividend date of this dividend is Friday, November 30th. This is an increase from Clearway Energy’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.26%. Clearway Energy’s dividend payout ratio (DPR) is currently 162.96%.
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Clearway Energy Company Profile
Clearway Energy, Inc, through its subsidiaries, acquires, owns, and operates contracted renewable and conventional generation, and thermal infrastructure assets in the United States. As of December 31, 2017, it had contracted renewable and conventional generation portfolio of 5,118 net megawatt (MW).
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