Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is DTE Energy (DTE) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
DTE Energy is one of 106 companies in the Utilities group. The Utilities group currently sits at #2 within 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 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. DTE Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DTE's full-year earnings has moved 0.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that DTE has returned about 13.6% since the start of the calendar year. In comparison, Utilities companies have returned an average of 8.1%. This shows that DTE Energy is outperforming its peers so far this year.
National Grid (NGG) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 25.7%.
In National Grid's case, the consensus EPS estimate for the current year increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, DTE Energy belongs to the Utility - Electric Power industry, which includes 60 individual stocks and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 8.1% so far this year, meaning that DTE is performing better in terms of year-to-date returns. National Grid is also part of the same industry.
Investors interested in the Utilities sector may want to keep a close eye on DTE Energy and National Grid as they attempt to continue their solid performance.
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DTE Energy Company (DTE): Free Stock Analysis Report National Grid Transco, PLC (NGG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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