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Are Utilities Stocks Lagging CenterPoint Energy (CNP) This Year?

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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? Let's take a closer look at the stock's year-to-date performance to find out.

CenterPoint Energy is a member of the Utilities sector. This group includes 108 individual stocks and currently holds a Zacks Sector Rank of #4. 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. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for CNP's full-year earnings has moved 0.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, CNP has gained about 17% so far this year. At the same time, Utilities stocks have gained an average of 6.7%. This shows that CenterPoint Energy is outperforming its peers so far this year.

Another stock in the Utilities sector, Otter Tail (OTTR - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 13.4%.

The consensus estimate for Otter Tail's current year EPS has increased 33.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, CenterPoint Energy belongs to the Utility - Electric Power industry, a group that includes 61 individual companies and currently sits at #71 in the Zacks Industry Rank. On average, this group has gained an average of 7.6% so far this year, meaning that CNP is performing better in terms of year-to-date returns. Otter Tail is also part of the same industry.

CenterPoint Energy and Otter Tail could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.


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