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Is Algonquin Power & Utilities (AQN) 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. Is Algonquin Power & Utilities (AQN - 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.
Algonquin Power & Utilities is a member of the Utilities sector. This group includes 106 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Algonquin Power & Utilities is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AQN's full-year earnings has moved 1.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AQN has returned about 33% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of 6.9% on a year-to-date basis. This means that Algonquin Power & Utilities is outperforming the sector as a whole this year.
MYR Group (MYRG - Free Report) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 7.7%.
In MYR Group's case, the consensus EPS estimate for the current year increased 17.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Algonquin Power & Utilities belongs to the Utility - Electric Power industry, a group that includes 60 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, this group has gained an average of 7% so far this year, meaning that AQN is performing better in terms of year-to-date returns.
On the other hand, MYR Group belongs to the Electric Construction industry. This 1-stock industry is currently ranked #3. The industry has moved +7.7% year to date.
Investors with an interest in Utilities stocks should continue to track Algonquin Power & Utilities and MYR Group. These stocks will be looking to continue their solid performance.
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Is Algonquin Power & Utilities (AQN) Outperforming Other Utilities Stocks This Year?
Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Algonquin Power & Utilities (AQN - 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.
Algonquin Power & Utilities is a member of the Utilities sector. This group includes 106 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Algonquin Power & Utilities is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AQN's full-year earnings has moved 1.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that AQN has returned about 33% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of 6.9% on a year-to-date basis. This means that Algonquin Power & Utilities is outperforming the sector as a whole this year.
MYR Group (MYRG - Free Report) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 7.7%.
In MYR Group's case, the consensus EPS estimate for the current year increased 17.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Algonquin Power & Utilities belongs to the Utility - Electric Power industry, a group that includes 60 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, this group has gained an average of 7% so far this year, meaning that AQN is performing better in terms of year-to-date returns.
On the other hand, MYR Group belongs to the Electric Construction industry. This 1-stock industry is currently ranked #3. The industry has moved +7.7% year to date.
Investors with an interest in Utilities stocks should continue to track Algonquin Power & Utilities and MYR Group. These stocks will be looking to continue their solid performance.