Investors focused on the Utilities space have likely heard of Middlesex Water (MSEX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Middlesex Water is one of 123 individual stocks in the Utilities sector. Collectively, these companies sit at #11 in the Zacks Sector Rank. 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 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. MSEX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MSEX's full-year earnings has moved 5.85% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, MSEX has moved about 9.33% on a year-to-date basis. In comparison, Utilities companies have returned an average of 12.64%. This means that Middlesex Water is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MSEX belongs to the Utility - Water Supply industry, a group that includes 14 individual stocks and currently sits at #55 in the Zacks Industry Rank. On average, stocks in this group have gained 26.02% this year, meaning that MSEX is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Utilities stocks should continue to track MSEX. The stock will be looking to continue its solid performance.