The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Algonquin Power & Utilities (AQN) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Algonquin Power & Utilities is one of 109 companies in the Utilities group. The Utilities group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Algonquin Power & Utilities is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AQN's full-year earnings has moved 8.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AQN has returned 32.1% so far this year. Meanwhile, stocks in the Utilities group have gained about 8.8% on average. This means that Algonquin Power & Utilities is outperforming the sector as a whole this year.
Koninklijke KPN NV (KKPNF) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 32.7%.
The consensus estimate for Koninklijke KPN NV's current year EPS has increased 3.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Algonquin Power & Utilities belongs to the Utility - Electric Power industry, a group that includes 60 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, this group has gained an average of 8.7% so far this year, meaning that AQN is performing better in terms of year-to-date returns.
On the other hand, Koninklijke KPN NV belongs to the Diversified Communication Services industry. This 19-stock industry is currently ranked #33. The industry has moved +16.1% year to date.
Investors with an interest in Utilities stocks should continue to track Algonquin Power & Utilities and Koninklijke KPN NV. These stocks will be looking to continue their solid performance.
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Algonquin Power & Utilities Corp. (AQN): Free Stock Analysis Report Koninklijke KPN NV (KKPNF): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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