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Is MYR Group (MYRG) Outperforming Other Utilities Stocks This Year?

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Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. MYR Group (MYRG - 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? 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.

MYR Group is a member of our Utilities group, which includes 109 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. MYRG is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for MYRG's full-year earnings has moved 14.75% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, MYRG has moved about 75.66% on a year-to-date basis. At the same time, Utilities stocks have gained an average of 5.62%. This means that MYR Group is performing better than its sector in terms of year-to-date returns.

Breaking things down more, MYRG is a member of the Electric Construction industry, which includes 1 individual companies and currently sits at #13 in the Zacks Industry Rank. This group has gained an average of 75.66% so far this year, so MYRG is performing on par in this area.

Investors with an interest in Utilities stocks should continue to track MYRG. The stock will be looking to continue its solid performance.

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