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Is CenterPoint Energy (CNP) Stock Outpacing Its Utilities Peers This Year?

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The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. CenterPoint Energy (CNP - 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? 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 a member of the Utilities sector. This group includes 103 individual stocks and currently holds a Zacks Sector Rank of #7. 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).

Over the past 90 days, the Zacks Consensus Estimate for CNP's full-year earnings has moved 0.3% higher. 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 2.2% since the start of the calendar year. At the same time, Utilities stocks have gained an average of 2%. This means that CenterPoint Energy is outperforming the sector as a whole this year.

Another stock in the Utilities sector, E.ON SE (EONGY - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 30.1%.

In E.ON SE's case, the consensus EPS estimate for the current year increased 5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, CenterPoint Energy belongs to the Utility - Electric Power industry, a group that includes 58 individual stocks and currently sits at #107 in the Zacks Industry Rank. On average, this group has gained an average of 0.4% so far this year, meaning that CNP is performing better in terms of year-to-date returns. E.ON SE is also part of the same industry.

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


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