Investors focused on the Oils-Energy space have likely heard of Magellan Midstream Partners, L.P. (MMP - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Magellan Midstream Partners, L.P. is one of 311 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. 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 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. MMP is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MMP's full-year earnings has moved 2.25% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, MMP has gained about 16.51% so far this year. In comparison, Oils-Energy companies have returned an average of -1.34%. This means that Magellan Midstream Partners, L.P. is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MMP belongs to the Oil and Gas - Production Pipeline - MLB industry, which includes 16 individual stocks and currently sits at #47 in the Zacks Industry Rank.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to MMP as it looks to continue its solid performance.