Should You Remain Optimistic in Your Clearway Energy (CWEN) Stake?

ClearBridge Investments, an investment management firm, published its “Global Infrastructure Income Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. On an absolute basis, the Strategy delivered gains across nine of the 10 sectors in which it was invested (out of 11 total) in the fourth quarter, with the electric, renewables, and gas sectors the leading contributors and the energy infrastructure sector the sole detractor. On a relative basis, measured against the S&P Global Infrastructure Index, the ClearBridge Global Infrastructure Income Strategy outperformed during the fourth quarter. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments SMID Cap Growth Strategy, in its Q4 2021 investor letter, mentioned Clearway Energy, Inc. (NYSE:CWEN) and discussed its stance on the firm. Founded in 2012, Clearway Energy, Inc. (NYSE:CWEN) is a New Jersey-based energy company with a $7.2 billion market capitalization and is currently spearheaded by its CEO, Craig Cornelius. Clearway Energy, Inc. (NYSE:CWEN) delivered a 2.80% return since the beginning of the year, while its 12-month returns are up by 33.19%. The stock closed at $37.04 per share on March 29, 2022.

Here is what ClearBridge Investments SMID Cap Growth Strategy has to say about Clearway Energy, Inc. (NYSE:CWEN) in its Q4 2021 investor letter:

“Clearway Energy primarily owns and operates contracted renewable generation assets. It also owns and operates conventional generation and thermal infrastructure assets. Clearway Energy’s share price continued to benefit from the completed sale of its thermal assets, which was above expectations, generating USD$1.3 billion in incremental proceeds. Additionally, there was optimism surrounding a stimulus bill passthrough which contains renewables subsidies.”

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Our calculations show that Clearway Energy, Inc. (NYSE:CWEN) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Clearway Energy, Inc. (NYSE:CWEN) was in 21 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 17 funds in the previous quarter. Clearway Energy, Inc. (NYSE:CWEN) delivered a 4.28% return in the past 3 months. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.