ClearBridge Investments, an investment management firm, published its “Large Cap Value Strategy” first quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Value Strategy underperformed its Russell 1000 Value Index benchmark during the first quarter. On an absolute basis, the Strategy had gains in four of the 11 sectors in which it was invested for the quarter. The strongest contributions came from the energy, utilities, and health care sectors. The information technology (IT), materials, and consumer discretionary sectors were the main detractors. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, ClearBridge Investments Large Cap Value Strategy mentioned Sempra (NYSE:SRE) and explained its insights for the company. Founded in 1998, Sempra (NYSE:SRE) is a San Diego, California-based energy infrastructure company with a $54.0 billion market capitalization. Sempra (NYSE:SRE) delivered a 29.46% return since the beginning of the year, while its 12-month returns are up by 24.43%. The stock closed at $171.25 per share on April 15, 2022.
Here is what ClearBridge Investments Large Cap Value Strategy has to say about Sempra (NYSE:SRE) in its Q1 2022 investor letter:
“Energy shortages in Europe were only intensified by the invasion. The conflict and economic sanctions against Russia have brought to the forefront EU dependence on Russian oil and natural gas. As Germany and its EU neighbors look to diversify their natural gas suppliers, some U.S. companies stand to benefit. Within the portfolio, Sempra Energy (NYSE:SRE) is well-positioned. Sempra’s previously underappreciated portfolio of infrastructure assets, with existing as well as prospective liquified natural gas (LNG) facilities, should benefit from renewed interest in U.S.-sourced LNG. The U.S. commitment to increase LNG exports to Europe over the coming years should create a favorable long-term demand environment and hopefully regulatory framework benefiting Sempra along with other natural gas and LNG suppliers. Sempra’s core utilities operations in California and Texas continue to generate solid mid- to high-single-digit earnings growth, and it enjoys additional growth opportunities from renewable natural gas (RNG), hydrogen and other renewable sources of energy.”
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Our calculations show that Sempra (NYSE:SRE) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Sempra (NYSE:SRE) was in 31 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 23 funds in the previous quarter. Sempra (NYSE:SRE) delivered a 25.11% return in the past 3 months.
In April 2022, we published an article that includes Sempra (NYSE:SRE) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
