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Is CenterPoint Energy (CNP) Outperforming Other Utilities Stocks This Year?
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The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is CenterPoint Energy (CNP - Free Report) one of those stocks right now? 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.
CenterPoint Energy is one of 108 companies in the Utilities group. The Utilities group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CNP's full-year earnings has moved 0.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CNP has moved about 5.9% on a year-to-date basis. At the same time, Utilities stocks have lost an average of 3.3%. This means that CenterPoint Energy is outperforming the sector as a whole this year.
Another Utilities stock, which has outperformed the sector so far this year, is TransAlta (TAC - Free Report) . The stock has returned 4.8% year-to-date.
Over the past three months, TransAlta's consensus EPS estimate for the current year has increased 64.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CenterPoint Energy belongs to the Utility - Electric Power industry, which includes 61 individual stocks and currently sits at #95 in the Zacks Industry Rank. Stocks in this group have lost about 3.6% so far this year, so CNP is performing better this group in terms of year-to-date returns. TransAlta is also part of the same industry.
CenterPoint Energy and TransAlta could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
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Is CenterPoint Energy (CNP) Outperforming Other Utilities Stocks This Year?
The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is CenterPoint Energy (CNP - Free Report) one of those stocks right now? 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.
CenterPoint Energy is one of 108 companies in the Utilities group. The Utilities group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CNP's full-year earnings has moved 0.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CNP has moved about 5.9% on a year-to-date basis. At the same time, Utilities stocks have lost an average of 3.3%. This means that CenterPoint Energy is outperforming the sector as a whole this year.
Another Utilities stock, which has outperformed the sector so far this year, is TransAlta (TAC - Free Report) . The stock has returned 4.8% year-to-date.
Over the past three months, TransAlta's consensus EPS estimate for the current year has increased 64.7%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CenterPoint Energy belongs to the Utility - Electric Power industry, which includes 61 individual stocks and currently sits at #95 in the Zacks Industry Rank. Stocks in this group have lost about 3.6% so far this year, so CNP is performing better this group in terms of year-to-date returns. TransAlta is also part of the same industry.
CenterPoint Energy and TransAlta could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.