For those looking to find strong Utilities stocks, it is prudent to search for companies in the group 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 a member of the Utilities sector. This group includes 111 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CNP's full-year earnings has moved 0.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CNP has returned about 0.6% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of -3% on a year-to-date basis. 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 Hawaiian Electric (HE - Free Report) . The stock has returned 1% year-to-date.
For Hawaiian Electric, the consensus EPS estimate for the current year has increased 3.3% 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 62 individual stocks and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have lost about 3.7% so far this year, so CNP is performing better this group in terms of year-to-date returns. Hawaiian Electric is also part of the same industry.
Going forward, investors interested in Utilities stocks should continue to pay close attention to CenterPoint Energy and Hawaiian Electric as they could maintain their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For those looking to find strong Utilities stocks, it is prudent to search for companies in the group 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 a member of the Utilities sector. This group includes 111 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CNP's full-year earnings has moved 0.7% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CNP has returned about 0.6% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of -3% on a year-to-date basis. 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 Hawaiian Electric (HE - Free Report) . The stock has returned 1% year-to-date.
For Hawaiian Electric, the consensus EPS estimate for the current year has increased 3.3% 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 62 individual stocks and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have lost about 3.7% so far this year, so CNP is performing better this group in terms of year-to-date returns. Hawaiian Electric is also part of the same industry.
Going forward, investors interested in Utilities stocks should continue to pay close attention to CenterPoint Energy and Hawaiian Electric as they could maintain their solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on CNP - FREE
Get the latest research report on HE - FREE