ClearBridge Investments, an investment management firm, published its “Global Infrastructure Income Strategy” first quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Global Infrastructure Income Strategy trailed the S&P Global Infrastructure Index, which returned 7.27% for the quarter, while both handily outperformed global equities as measured by the MSCI All Country World Index (-5.36%). 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 Global Infrastructure Income Strategy mentioned Brookfield Renewable Partners L.P. (NYSE:BEP) and explained its insights for the company. Founded in 2011, Brookfield Renewable Partners L.P. (NYSE:BEP) is a Bermuda-based publicly traded limited partnership with a $22.2 billion market capitalization. Brookfield Renewable Partners L.P. (NYSE:BEP) delivered a -3.52% return since the beginning of the year, while its 12-month returns are down by -7.90%. The stock closed at $34.53 per share on May 03, 2022.
Here is what ClearBridge Investments Global Infrastructure Income Strategy has to say about Brookfield Renewable Partners L.P. (NYSE:BEP) in its Q1 2022 investor letter:
“Brookfield Renewable is a pure-play renewables operator and developer headquartered in Canada, focused on international hydro, solar, wind and storage technology. As more private and public institutions announce ambitious carbon reduction initiatives, Brookfield Renewable’s globally diversified, multi- technology renewables business makes it an attractive partner. Brookfield’s development pipeline stands at 18,000 MWs, providing confidence the company can meet its targeted double- digit cash flow growth through to 2025. The market narrative around the energy transition and energy security, along with increasing fossil fuels prices which have driven greater focus on switching to renewables, helped Brookfield shares in the quarter.”
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Our calculations show that Brookfield Renewable Partners L.P. (NYSE:BEP) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Brookfield Renewable Partners L.P. (NYSE:BEP) was in 21 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 17 funds in the previous quarter. Brookfield Renewable Partners L.P. (NYSE:BEP) delivered a 4.35% return in the past 3 months.
In June 2021, we also shared another hedge fund’s views on Brookfield Renewable Partners L.P. (NYSE:BEP) 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.
