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“CEG’s Nuclear Assets and Free Cash Flow Generation Were Mispriced by the Market”

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ClearBridge Investments, an funding control corporate, launched its “ClearBridge Global Infrastructure Value Strategy” 2d quarter 2022 investor letter. A duplicate of the letter can also be downloaded right here. In the 2d quarter, the fund underperformed relative to the S&P Global Infrastructure Index. Utilities with blank power portfolios contributed definitely to the fund’s efficiency however fears of recession affected the rail corporations. For additional info on the fund’s easiest choices in 2022, please test its most sensible 5 holdings.

In the letter, ClearBridge Investments mentioned the efficiency of the ClearBridge Global Infrastructure Value Strategy portfolio. Constellation Energy Corporation (NASDAQ:CEG) was once a good contributor to the technique in the 2d quarter. Constellation Energy Corporation (NASDAQ:CEG) is a US-based electrical energy generator and distributor, headquartered in Baltimore, Maryland. The inventory of Constellation Energy Corporation (NASDAQ:CEG) closed at $75.89 in step with proportion on August 8, 2022. One-month go back of Constellation Energy Corporation (NASDAQ:CEG) rose to twenty-eight.13% and its stocks won 33.05% in their price over the closing 3 months. It has a marketplace capitalization of $24,804 billion.

Here’s what ClearBridge Investments in particular stated about Constellation Energy Corporation (NASDAQ:CEG):

“Utilities with blank power portfolios had been additionally certain individuals in a down quarter for markets, with sturdy efficiency from US electrical utilities Constellation Energy Corporation (NASDAQ:CEG) and Clearway Energy (CWEN). We purchased stocks of Constellation Energy previous this yr following its by-product from Exelon (EXC). Constellation represents Exelon’s former energy era and aggressive power trade, and with 21 GW of nuclear capability throughout 13 vegetation is the greatest generator of carbon-free energy in the US We believed Constellation Energy’s nuclear belongings and loose money waft era had been mispriced by the marketplace, with upside from to any extent further federal/state nuclear subsidies granted, and this has to this point performed out.”

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Although Constellation Energy Corporation (NASDAQ:CEG) is a good contributor to the technique, it isn’t on the record of 30 Most Popular Stocks Among Hedge Funds. As in step with our database, Constellation Energy Corporation (NASDAQ:CEG) was once held by 47 hedge fund portfolios at the finish of the first quarter.

We mentioned Constellation Energy Corporation (NASDAQ:CEG) in any other article and shared Frank Fu’s CaaS Capital’s most sensible inventory choices. You can take a look at our hedge fund investor letters Q2 2022 web page for extra investor letters from hedge budget and different outstanding buyers.

Disclosure: None. This article is at the beginning revealed at Insider Monkey.

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