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Executive Summary

Inflation Shapes Performance In a Still Pricey Stock Market

By Roger S. Conrad on May. 9, 2022

The S&P 500 is down more than -13 percent year-to-date, as inflation worries have begun to morph into recession fears. But despite jagged volatility, the Dow Jones Utility Average remains in the black for 2022. In fact, 18 CUI Portfolio stocks are still priced above maximum recommended entry points, with Chevron Corp (NYSE: CVX) in partial profit taking territory.
Conversely, only Enel SpA (Italy: ENEL, OTC: ENLAY) sells for less than its “Dream Buy” price, a level of valuation where new investment has historically produced windfall profits within 12 months. And that’s in large part because the global renewable energy giant is priced in the Euro, which has dropped 15 percent against the US dollar the last 12 months.
The upshot: All of us need to remain especially careful about what and when we buy. And we’ll also do better by taking an occasional profit when buying momentum pushes share prices into uncharted territory, as was the case a month ago.
This month, I focus on both of these objectives, starting with the best fresh money buys: Focus stocks Centerpoint Energy (NYSE: CNP) and Clearway Energy (NYSE: CWEN). The Portfolio discussion highlights a compelling opportunity to pick up shares of class communications and solar energy related companies on the cheap.

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