The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Enbridge (ENB) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Enbridge is a member of the Oils-Energy sector. This group includes 241 individual stocks and currently holds a Zacks Sector Rank of #15. 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 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. Enbridge is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ENB's full-year earnings has moved 3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ENB has moved about 12.4% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 2.3%. This means that Enbridge is performing better than its sector in terms of year-to-date returns.
One other Oils-Energy stock that has outperformed the sector so far this year is Delek Logistics Partners, L.P. (DKL). The stock is up 3% year-to-date.
Over the past three months, Delek Logistics Partners, L.P.'s consensus EPS estimate for the current year has increased 0.8%. The stock currently has a Zacks Rank #2 (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 #60 in the Zacks Industry Rank. This group has gained an average of 5.8% so far this year, so ENB is performing better in this area.
Delek Logistics Partners, L.P., however, belongs to the Oil and Gas - Production Pipeline - MLB industry. Currently, this 6-stock industry is ranked #97. The industry has moved -8.5% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Enbridge and Delek Logistics Partners, L.P. as they could maintain their solid performance.
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Enbridge Inc (ENB): Free Stock Analysis Report Delek Logistics Partners, L.P. (DKL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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