Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Ballard Power Systems (BLDP) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Ballard Power Systems is a member of the Utilities sector. This group includes 109 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Ballard Power Systems is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BLDP's full-year earnings has moved 2.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, BLDP has gained about 97% so far this year. Meanwhile, stocks in the Utilities group have gained about 17.1% on average. This means that Ballard Power Systems is outperforming the sector as a whole this year.
ENGIE BRASL EGA (EGIEY) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 29.8%.
In ENGIE BRASL EGA's case, the consensus EPS estimate for the current year increased 7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ballard Power Systems belongs to the Utility - Electric Power industry, a group that includes 59 individual stocks and currently sits at #61 in the Zacks Industry Rank. This group has gained an average of 18.2% so far this year, so BLDP is performing better in this area. ENGIE BRASL EGA is also part of the same industry.
Ballard Power Systems and ENGIE BRASL EGA could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
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Ballard Power Systems, Inc. (BLDP): Free Stock Analysis Report ENGIE BRASL EGA (EGIEY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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