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Is CenterPoint Energy (CNP) Stock Outpacing Its Utilities Peers This Year?
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For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has CenterPoint Energy (CNP - Free Report) been one of those stocks this year? 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 one of 109 individual stocks in the Utilities sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. 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 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. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CNP's full-year earnings has moved 0.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CNP has gained about 14.2% so far this year. Meanwhile, the Utilities sector has returned an average of 8.6% on a year-to-date basis. This shows that CenterPoint Energy is outperforming its peers so far this year.
One other Utilities stock that has outperformed the sector so far this year is Enel SpA (ENLAY - Free Report) . The stock is up 33.3% year-to-date.
The consensus estimate for Enel SpA's current year EPS has increased 10.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, CenterPoint Energy is a member of the Utility - Electric Power industry, which includes 60 individual companies and currently sits at #70 in the Zacks Industry Rank. This group has gained an average of 8.6% so far this year, so CNP is performing better in this area. Enel SpA is also part of the same industry.
Going forward, investors interested in Utilities stocks should continue to pay close attention to CenterPoint Energy and Enel SpA as they could maintain their solid performance.
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Is CenterPoint Energy (CNP) Stock Outpacing Its Utilities Peers This Year?
For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has CenterPoint Energy (CNP - Free Report) been one of those stocks this year? 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 one of 109 individual stocks in the Utilities sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. 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 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. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CNP's full-year earnings has moved 0.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CNP has gained about 14.2% so far this year. Meanwhile, the Utilities sector has returned an average of 8.6% on a year-to-date basis. This shows that CenterPoint Energy is outperforming its peers so far this year.
One other Utilities stock that has outperformed the sector so far this year is Enel SpA (ENLAY - Free Report) . The stock is up 33.3% year-to-date.
The consensus estimate for Enel SpA's current year EPS has increased 10.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, CenterPoint Energy is a member of the Utility - Electric Power industry, which includes 60 individual companies and currently sits at #70 in the Zacks Industry Rank. This group has gained an average of 8.6% so far this year, so CNP is performing better in this area. Enel SpA is also part of the same industry.
Going forward, investors interested in Utilities stocks should continue to pay close attention to CenterPoint Energy and Enel SpA as they could maintain their solid performance.