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Are Oils-Energy Stocks Lagging Magellan Midstream Partners (MMP) This Year?
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For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Magellan Midstream Partners one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Magellan Midstream Partners is a member of the Oils-Energy sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #14. 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 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. Magellan Midstream Partners is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MMP's full-year earnings has moved 3.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MMP has returned about 31% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 1.3% on a year-to-date basis. As we can see, Magellan Midstream Partners is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Seadrill (SDRL - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 49.6%.
In Seadrill's case, the consensus EPS estimate for the current year increased 7.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Magellan Midstream Partners belongs to the Oil and Gas - Production Pipeline - MLB industry, which includes 9 individual stocks and currently sits at #174 in the Zacks Industry Rank. On average, stocks in this group have gained 15.4% this year, meaning that MMP is performing better in terms of year-to-date returns.
In contrast, Seadrill falls under the Oil and Gas - Drilling industry. Currently, this industry has 9 stocks and is ranked #110. Since the beginning of the year, the industry has moved +19.2%.
Investors interested in the Oils-Energy sector may want to keep a close eye on Magellan Midstream Partners and Seadrill as they attempt to continue their solid performance.
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Are Oils-Energy Stocks Lagging Magellan Midstream Partners (MMP) This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Magellan Midstream Partners one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Magellan Midstream Partners is a member of the Oils-Energy sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #14. 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 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. Magellan Midstream Partners is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MMP's full-year earnings has moved 3.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MMP has returned about 31% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 1.3% on a year-to-date basis. As we can see, Magellan Midstream Partners is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Seadrill (SDRL - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 49.6%.
In Seadrill's case, the consensus EPS estimate for the current year increased 7.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Magellan Midstream Partners belongs to the Oil and Gas - Production Pipeline - MLB industry, which includes 9 individual stocks and currently sits at #174 in the Zacks Industry Rank. On average, stocks in this group have gained 15.4% this year, meaning that MMP is performing better in terms of year-to-date returns.
In contrast, Seadrill falls under the Oil and Gas - Drilling industry. Currently, this industry has 9 stocks and is ranked #110. Since the beginning of the year, the industry has moved +19.2%.
Investors interested in the Oils-Energy sector may want to keep a close eye on Magellan Midstream Partners and Seadrill as they attempt to continue their solid performance.