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Is NextEra Energy (NEE) Stock Outpacing Its Utilities Peers This Year?
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Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. NextEra Energy (NEE - Free Report) 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? 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.
NextEra Energy is a member of our Utilities group, which includes 104 different companies and currently sits at #9 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 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. NextEra Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NEE's full-year earnings has moved 1.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that NEE has returned about 0.9% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of -0.2% on a year-to-date basis. This shows that NextEra Energy is outperforming its peers so far this year.
One other Utilities stock that has outperformed the sector so far this year is Sabesp (SBS - Free Report) . The stock is up 0.6% year-to-date.
Over the past three months, Sabesp's consensus EPS estimate for the current year has increased 4.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, NextEra Energy belongs to the Utility - Electric Power industry, a group that includes 58 individual companies and currently sits at #168 in the Zacks Industry Rank. This group has gained an average of 0.8% so far this year, so NEE is performing better in this area.
On the other hand, Sabesp belongs to the Utility - Water Supply industry. This 13-stock industry is currently ranked #9. The industry has moved -6.4% year to date.
Going forward, investors interested in Utilities stocks should continue to pay close attention to NextEra Energy and Sabesp as they could maintain their solid performance.
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Is NextEra Energy (NEE) Stock Outpacing Its Utilities Peers This Year?
Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. NextEra Energy (NEE - Free Report) 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? 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.
NextEra Energy is a member of our Utilities group, which includes 104 different companies and currently sits at #9 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 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. NextEra Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NEE's full-year earnings has moved 1.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that NEE has returned about 0.9% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of -0.2% on a year-to-date basis. This shows that NextEra Energy is outperforming its peers so far this year.
One other Utilities stock that has outperformed the sector so far this year is Sabesp (SBS - Free Report) . The stock is up 0.6% year-to-date.
Over the past three months, Sabesp's consensus EPS estimate for the current year has increased 4.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, NextEra Energy belongs to the Utility - Electric Power industry, a group that includes 58 individual companies and currently sits at #168 in the Zacks Industry Rank. This group has gained an average of 0.8% so far this year, so NEE is performing better in this area.
On the other hand, Sabesp belongs to the Utility - Water Supply industry. This 13-stock industry is currently ranked #9. The industry has moved -6.4% year to date.
Going forward, investors interested in Utilities stocks should continue to pay close attention to NextEra Energy and Sabesp as they could maintain their solid performance.