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 #14 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 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. MSEX is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, 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.
Based on the latest available data, MSEX has gained about 9.62% so far this year. Meanwhile, stocks in the Utilities group have gained about 13.48% on average. This means that Middlesex Water is outperforming the sector as a whole this year.
Looking more specifically, MSEX belongs to the Utility - Water Supply industry, a group that includes 14 individual stocks and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 25.17% so far this year, so MSEX is slightly underperforming its industry in this area.
MSEX will likely be looking to continue its solid performance, so investors interested in Utilities stocks should continue to pay close attention to the company.