Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Ballard Power Systems (BLDP) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Ballard Power Systems is one of 109 individual stocks in the Utilities sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. 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 5.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BLDP has moved about 75.3% on a year-to-date basis. Meanwhile, the Utilities sector has returned an average of 23.3% on a year-to-date basis. This means that Ballard Power Systems is performing better than its sector in terms of year-to-date returns.
One other Utilities stock that has outperformed the sector so far this year is CenterPoint Energy (CNP). The stock is up 26.6% year-to-date.
The consensus estimate for CenterPoint Energy's current year EPS has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Ballard Power Systems belongs to the Utility - Electric Power industry, a group that includes 59 individual companies and currently sits at #46 in the Zacks Industry Rank. Stocks in this group have gained about 27.9% so far this year, so BLDP is performing better this group in terms of year-to-date returns. CenterPoint Energy is also part of the same industry.
Investors interested in the Utilities sector may want to keep a close eye on Ballard Power Systems and CenterPoint Energy as they attempt to continue their solid performance.
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Ballard Power Systems, Inc. (BLDP): Free Stock Analysis Report CenterPoint Energy, Inc. (CNP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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