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Is CenterPoint Energy (CNP) 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. Is CenterPoint Energy (CNP - 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.
CenterPoint Energy is one of 104 companies in the Utilities group. The Utilities group currently sits at #6 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).
Over the past 90 days, the Zacks Consensus Estimate for CNP's full-year earnings has moved 0.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CNP has returned 8.5% so far this year. Meanwhile, stocks in the Utilities group have gained about 3.9% on average. This shows that CenterPoint Energy is outperforming its peers so far this year.
Another stock in the Utilities sector, Grupo Televisa (TV - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 20.2%.
The consensus estimate for Grupo Televisa's current year EPS has increased 76.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CenterPoint Energy belongs to the Utility - Electric Power industry, a group that includes 60 individual stocks and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 4.3% so far this year, so CNP is performing better this group in terms of year-to-date returns.
On the other hand, Grupo Televisa belongs to the Diversified Communication Services industry. This 14-stock industry is currently ranked #135. The industry has moved +7.2% year to date.
CenterPoint Energy and Grupo Televisa could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.