The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is CenterPoint Energy (CNP) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
CenterPoint Energy is one of 108 companies in the Utilities group. The Utilities group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CNP's full-year earnings has moved 0.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CNP has moved about 17% on a year-to-date basis. Meanwhile, the Utilities sector has returned an average of 11.4% on a year-to-date basis. This means that CenterPoint Energy is performing better than its sector in terms of year-to-date returns.
Another Utilities stock, which has outperformed the sector so far this year, is Enel SpA (ENLAY). The stock has returned 28.5% year-to-date.
For Enel SpA, the consensus EPS estimate for the current year has increased 11.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, CenterPoint Energy is a member of the Utility - Electric Power industry, which includes 59 individual companies and currently sits at #82 in the Zacks Industry Rank. This group has gained an average of 11.4% so far this year, so CNP is performing better in this area. Enel SpA is also part of the same industry.
Going forward, investors interested in Utilities stocks should continue to pay close attention to CenterPoint Energy and Enel SpA as they could maintain their solid performance.
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CenterPoint Energy, Inc. (CNP): Free Stock Analysis Report Enel SpA (ENLAY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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