For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Enphase Energy (ENPH - 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.
Enphase Energy is one of 313 companies in the Oils-Energy group. The Oils-Energy group currently sits at #14 within the Zacks Sector Rank. 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. ENPH is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ENPH's full-year earnings has moved 72.68% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ENPH has returned about 320.51% since the start of the calendar year. Meanwhile, the Oils-Energy sector has returned an average of 10.91% on a year-to-date basis. This means that Enphase Energy is performing better than its sector in terms of year-to-date returns.
To break things down more, ENPH belongs to the Solar industry, a group that includes 12 individual companies and currently sits at #38 in the Zacks Industry Rank. Stocks in this group have gained about 80.58% so far this year, so ENPH is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to ENPH as it looks to continue its solid performance.