Investors focused on the Utilities space have likely heard of Duke Energy (DUK), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Duke Energy is one of 119 individual stocks in the Utilities sector. Collectively, these companies sit at #6 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 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. DUK is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DUK's full-year earnings has moved 0.50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, DUK has returned 6.34% so far this year. In comparison, Utilities companies have returned an average of 4.87%. As we can see, Duke Energy is performing better than its sector in the calendar year.
To break things down more, DUK belongs to the Utility - Electric Power industry, a group that includes 65 individual companies and currently sits at #108 in the Zacks Industry Rank. Stocks in this group have gained about 6.17% so far this year, so DUK is performing better this group in terms of year-to-date returns.
Investors with an interest in Utilities stocks should continue to track DUK. The stock will be looking to continue its solid performance.