For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Is ENGIE - Sponsored ADR (ENGIY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
ENGIE - Sponsored ADR is one of 108 individual stocks in the Utilities sector. Collectively, these companies sit at #3 in 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. ENGIE - Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ENGIY's full-year earnings has moved 4.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ENGIY has returned 42.1% so far this year. Meanwhile, the Utilities sector has returned an average of 11.5% on a year-to-date basis. This means that ENGIE - Sponsored ADR is outperforming the sector as a whole this year.
One other Utilities stock that has outperformed the sector so far this year is Fortis (FTS). The stock is up 17.8% year-to-date.
In Fortis' case, the consensus EPS estimate for the current year increased 3.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ENGIE - Sponsored ADR belongs to the Utility - Electric Power industry, which includes 59 individual stocks and currently sits at #81 in the Zacks Industry Rank. On average, this group has gained an average of 12% so far this year, meaning that ENGIY is performing better in terms of year-to-date returns. Fortis is also part of the same industry.
Investors interested in the Utilities sector may want to keep a close eye on ENGIE - Sponsored ADR and Fortis as they attempt to continue their solid performance.
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ENGIE - Sponsored ADR (ENGIY): Free Stock Analysis Report Fortis (FTS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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