For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Clearway Energy (CWEN) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Clearway Energy is a member of the Oils-Energy sector. This group includes 245 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Clearway Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CWEN's full-year earnings has moved 46.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CWEN has moved about 21.7% on a year-to-date basis. At the same time, Oils-Energy stocks have lost an average of 0.5%. This means that Clearway Energy is performing better than its sector in terms of year-to-date returns.
One other Oils-Energy stock that has outperformed the sector so far this year is Global Partners LP (GLP). The stock is up 9.7% year-to-date.
For Global Partners LP, the consensus EPS estimate for the current year has increased 24.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Clearway Energy belongs to the Alternative Energy - Other industry, which includes 44 individual stocks and currently sits at #158 in the Zacks Industry Rank. Stocks in this group have gained about 20.2% so far this year, so CWEN is performing better this group in terms of year-to-date returns.
Global Partners LP, however, belongs to the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry. Currently, this 6-stock industry is ranked #59. The industry has moved -1.9% so far this year.
Investors with an interest in Oils-Energy stocks should continue to track Clearway Energy and Global Partners LP. These stocks will be looking to continue their solid performance.
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Clearway Energy, Inc. (CWEN): Free Stock Analysis Report Global Partners LP (GLP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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