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Is Enbridge (ENB) Stock Outpacing Its Oils-Energy Peers This Year?
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The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Enbridge (ENB - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Enbridge is a member of the Oils-Energy sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. Enbridge is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ENB's full-year earnings has moved 3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ENB has returned about 13.9% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 5.5%. This means that Enbridge is outperforming the sector as a whole this year.
Global Partners LP (GLP - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.1%.
In Global Partners LP's case, the consensus EPS estimate for the current year increased 4.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Enbridge belongs to the Oil and Gas - Production and Pipelines industry, which includes 10 individual stocks and currently sits at #55 in the Zacks Industry Rank. On average, stocks in this group have gained 7.2% this year, meaning that ENB is performing better in terms of year-to-date returns.
On the other hand, Global Partners LP belongs to the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry. This 6-stock industry is currently ranked #179. The industry has moved -1.4% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Enbridge and Global Partners LP as they could maintain their solid performance.
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Is Enbridge (ENB) Stock Outpacing Its Oils-Energy Peers This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Enbridge (ENB - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Enbridge is a member of the Oils-Energy sector. This group includes 240 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. Enbridge is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ENB's full-year earnings has moved 3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ENB has returned about 13.9% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 5.5%. This means that Enbridge is outperforming the sector as a whole this year.
Global Partners LP (GLP - Free Report) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.1%.
In Global Partners LP's case, the consensus EPS estimate for the current year increased 4.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Enbridge belongs to the Oil and Gas - Production and Pipelines industry, which includes 10 individual stocks and currently sits at #55 in the Zacks Industry Rank. On average, stocks in this group have gained 7.2% this year, meaning that ENB is performing better in terms of year-to-date returns.
On the other hand, Global Partners LP belongs to the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry. This 6-stock industry is currently ranked #179. The industry has moved -1.4% year to date.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Enbridge and Global Partners LP as they could maintain their solid performance.