getting a report FROM STEIFEL on txo-- BIG PETE'S OLD FIRM.//
HIS NEW OUTFIT IN fla likes my CWEN!
going to buy in a week or two.
found this:
Clearway is a renewable energy producer. It primarily owns wind and solar, selling the power on long-term contracts.
It's a slow-growth business at the asset level, with slightly above gross domestic product (GDP) revenue growth over the length of its contracts. But at the
industry level, the growth potential is significant. More utilities are seeking more clean energy, both to meet growing power demand and to replace older, more expensive power from assets like coal when possible. And like Brookfield Renewable,
Clearway Energy has a powerful partner in its corner, constantly feeding it access to new project opportunities.
Clearway actually has two significant backers: privately held Global Infrastructure Partners and oil and gas giant TotalEnergies jointly own 42% of Clearway, and both are heavyweights in the growth of global energy. In the near term, its stock fell on concerns that
rising interest rates would cause the industry to collapse under debt refinances, but Clearway remains poised to continue its growth.
With a strong balance sheet and minimal debt maturities in the next few years, investors should take advantage of the fear and buy shares. At recent prices,
Clearway stock is still down 35% from its 2022 highs, pushing its still-growing dividend yield above 6%.