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DTE Energy Company (DTE) - free report >>
American Electric Power Company, Inc. (AEP) - free report >>
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Is American Electric Power (AEP) Outperforming Other Utilities Stocks This Year?
For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has American Electric Power (AEP - Free Report) been one of those stocks this year? 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.
American Electric Power is one of 105 companies in the Utilities group. The Utilities group currently sits at #6 within 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 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. American Electric Power is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AEP's full-year earnings has moved 0.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, AEP has moved about 20.2% on a year-to-date basis. At the same time, Utilities stocks have gained an average of 11.3%. This shows that American Electric Power is outperforming its peers so far this year.
DTE Energy (DTE - Free Report) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 11.5%.
Over the past three months, DTE Energy's consensus EPS estimate for the current year has increased 0%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, American Electric Power belongs to the Utility - Electric Power industry, which includes 59 individual stocks and currently sits at #82 in the Zacks Industry Rank. On average, stocks in this group have gained 14.6% this year, meaning that AEP is performing better in terms of year-to-date returns. DTE Energy is also part of the same industry.
Investors interested in the Utilities sector may want to keep a close eye on American Electric Power and DTE Energy as they attempt to continue their solid performance.