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Has NewJersey Resources (NJR) Outpaced Other Utilities Stocks This Year?

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For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Is New Jersey Resources (NJR - Free Report) one of those stocks right now? 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.

New Jersey Resources is one of 108 individual stocks in the Utilities sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 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. New Jersey Resources is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for NJR's full-year earnings has moved 1.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that NJR has returned about 8.8% since the start of the calendar year. At the same time, Utilities stocks have gained an average of 3%. This means that New Jersey Resources is outperforming the sector as a whole this year.

Another stock in the Utilities sector, OGE Energy (OGE - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 7%.

Over the past three months, OGE Energy's consensus EPS estimate for the current year has increased 29.2%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, New Jersey Resources is a member of the Utility - Gas Distribution industry, which includes 15 individual companies and currently sits at #151 in the Zacks Industry Rank. On average, this group has gained an average of 13.5% so far this year, meaning that NJR is slightly underperforming its industry in terms of year-to-date returns.

In contrast, OGE Energy falls under the Utility - Electric Power industry. Currently, this industry has 61 stocks and is ranked #151. Since the beginning of the year, the industry has moved +1.8%.

Investors with an interest in Utilities stocks should continue to track New Jersey Resources and OGE Energy. These stocks will be looking to continue their solid performance.


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