Investors focused on the Utilities space have likely heard of Brookfield Renewable Partners L.P. , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of BEP and the rest of the Utilities group's stocks.
Brookfield Renewable Partners L.P. is a member of the Utilities sector. This group includes 123 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 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. BEP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BEP's full-year earnings has moved 56.67% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, BEP has returned 30.73% so far this year. At the same time, Utilities stocks have gained an average of 13.23%. This means that Brookfield Renewable Partners L.P. is outperforming the sector as a whole this year.
Looking more specifically, BEP belongs to the Utility - Electric Power industry, a group that includes 64 individual stocks and currently sits at #148 in the Zacks Industry Rank. On average, this group has gained an average of 15.44% so far this year, meaning that BEP is performing better in terms of year-to-date returns.
Investors in the Utilities sector will want to keep a close eye on BEP as it attempts to continue its solid performance.