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? 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.
ENGIE - Sponsored ADR is a member of the Utilities sector. This group includes 108 individual stocks and currently holds a Zacks Sector Rank of #3. 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. ENGIE - Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ENGIY's full-year earnings has moved 5.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ENGIY has returned about 40% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of 13.5% on a year-to-date basis. As we can see, ENGIE - Sponsored ADR is performing better than its sector in the calendar year.
One other Utilities stock that has outperformed the sector so far this year is Fortis (FTS). The stock is up 22.1% year-to-date.
For Fortis, the consensus EPS estimate for the current year has increased 1.5% 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. Stocks in this group have gained about 13.1% so far this year, so ENGIY is performing better this group in terms of year-to-date returns. Fortis is also part of the same industry.
ENGIE - Sponsored ADR and Fortis could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
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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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