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? One simple way to answer this question is to take a look at the year-to-date performance of ENB and the rest of the Oils-Energy group's stocks.
Enbridge is a member of our Oils-Energy group, which includes 306 different companies and currently sits at #15 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
The Zacks Consensus Estimate for ENB's full-year earnings has moved 9.33% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, ENB has returned 23.10% so far this year. In comparison, Oils-Energy companies have returned an average of 0.13%. As we can see, Enbridge is performing better than its sector in the calendar year.
Looking more specifically, ENB belongs to the Oil and Gas - Production and Pipelines industry, a group that includes 15 individual stocks and currently sits at #164 in the Zacks Industry Rank. Stocks in this group have gained about 12.96% so far this year, so ENB is performing better this group in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on ENB as it attempts to continue its solid performance.