Investors focused on the Oils-Energy space have likely heard of Enbridge (ENB - 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 Oils-Energy peers, we might be able to answer that question.
Enbridge is a member of our Oils-Energy group, which includes 306 different companies and currently sits at #12 in 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. 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 9.46% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ENB has gained about 22.46% so far this year. In comparison, Oils-Energy companies have returned an average of 1.79%. This means that Enbridge is outperforming the sector as a whole this year.
Looking more specifically, ENB belongs to the Oil and Gas - Production and Pipelines industry, which includes 15 individual stocks and currently sits at #208 in the Zacks Industry Rank. This group has gained an average of 13.86% so far this year, so ENB is performing better in this area.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to ENB as it looks to continue its solid performance.