The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Enbridge (ENB - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Enbridge is a member of the Oils-Energy sector. This group includes 311 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. ENB 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 2.82% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ENB has returned 8.17% so far this year. At the same time, Oils-Energy stocks have lost an average of 3.14%. This means that Enbridge is outperforming the sector as a whole this year.
To break things down more, ENB belongs to the Oil and Gas - Production and Pipelines industry, a group that includes 15 individual companies and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 11.24% so far this year, so ENB is slightly underperforming its industry in this area.
ENB will likely be looking to continue its solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to the company.