The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Enbridge (ENB) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Enbridge is a member of the Oils-Energy sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #16. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Enbridge is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ENB's full-year earnings has moved 0.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ENB has returned 5.2% so far this year. Meanwhile, the Oils-Energy sector has returned an average of 4.2% on a year-to-date basis. As we can see, Enbridge is performing better than its sector in the calendar year.
Plains GP Holdings (PAGP) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 6.6%.
Over the past three months, Plains GP Holdings' consensus EPS estimate for the current year has increased 19.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Enbridge is a member of the Oil and Gas - Production and Pipelines industry, which includes 10 individual companies and currently sits at #55 in the Zacks Industry Rank. On average, stocks in this group have gained 4% this year, meaning that ENB is performing better in terms of year-to-date returns. Plains GP Holdings is also part of the same industry.
Investors with an interest in Oils-Energy stocks should continue to track Enbridge and Plains GP Holdings. These stocks will be looking to continue their solid performance.
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Enbridge Inc (ENB): Free Stock Analysis Report Plains Group Holdings, L.P. (PAGP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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