The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has NiSource (NI) been one of those stocks this year? 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.
NiSource is a member of our Utilities group, which includes 108 different companies and currently sits at #5 in the Zacks Sector Rank. 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. NiSource is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NI's full-year earnings has moved 0.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, NI has gained about 15.3% so far this year. At the same time, Utilities stocks have gained an average of 12.9%. This shows that NiSource is outperforming its peers so far this year.
One other Utilities stock that has outperformed the sector so far this year is Telenor ASA (TELNY). The stock is up 47.4% year-to-date.
For Telenor ASA, the consensus EPS estimate for the current year has increased 9.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, NiSource is a member of the Utility - Electric Power industry, which includes 59 individual companies and currently sits at #86 in the Zacks Industry Rank. This group has gained an average of 12.4% so far this year, so NI is performing better in this area.
In contrast, Telenor ASA falls under the Diversified Communication Services industry. Currently, this industry has 19 stocks and is ranked #164. Since the beginning of the year, the industry has moved +22.5%.
Investors interested in the Utilities sector may want to keep a close eye on NiSource and Telenor ASA as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NiSource, Inc (NI): Free Stock Analysis Report Telenor ASA (TELNY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
