For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Ballard Power Systems (BLDP) been one of those stocks this year? 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.
Ballard Power Systems is a member of the Utilities sector. This group includes 110 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. Ballard Power Systems is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BLDP's full-year earnings has moved 21.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BLDP has gained about 64.2% so far this year. Meanwhile, the Utilities sector has returned an average of 7.2% on a year-to-date basis. This means that Ballard Power Systems is outperforming the sector as a whole this year.
One other Utilities stock that has outperformed the sector so far this year is Energias de Portugal (EDPFY). The stock is up 14.8% year-to-date.
Over the past three months, Energias de Portugal's consensus EPS estimate for the current year has increased 0.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ballard Power Systems belongs to the Utility - Electric Power industry, a group that includes 60 individual stocks and currently sits at #102 in the Zacks Industry Rank. On average, stocks in this group have gained 7.3% this year, meaning that BLDP is performing better in terms of year-to-date returns. Energias de Portugal is also part of the same industry.
Investors interested in the Utilities sector may want to keep a close eye on Ballard Power Systems and Energias de Portugal as they attempt to continue their solid performance.
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Ballard Power Systems, Inc. (BLDP): Free Stock Analysis Report
Energias de Portugal (EDPFY): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).