Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Companhia Paranaense de Energia - Copel Unsponsored ADR (ELPC) one of those stocks right now? 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.
Companhia Paranaense de Energia - Copel Unsponsored ADR is one of 110 companies in the Utilities group. The Utilities group currently sits at #3 within 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 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. Companhia Paranaense de Energia - Copel Unsponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ELPC's full-year earnings has moved 215% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ELPC has moved about 31.1% on a year-to-date basis. Meanwhile, stocks in the Utilities group have gained about 8.8% on average. This means that Companhia Paranaense de Energia - Copel Unsponsored ADR is performing better than its sector in terms of year-to-date returns.
New Jersey Resources (NJR) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 20.1%.
For New Jersey Resources, the consensus EPS estimate for the current year has increased 7.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Companhia Paranaense de Energia - Copel Unsponsored ADR belongs to the Utility - Electric Power industry, a group that includes 60 individual companies and currently sits at #90 in the Zacks Industry Rank. This group has gained an average of 9.7% so far this year, so ELPC is performing better in this area.
In contrast, New Jersey Resources falls under the Utility - Gas Distribution industry. Currently, this industry has 13 stocks and is ranked #63. Since the beginning of the year, the industry has moved +7.9%.
Investors with an interest in Utilities stocks should continue to track Companhia Paranaense de Energia - Copel Unsponsored ADR and New Jersey Resources. These stocks will be looking to continue their solid performance.
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Companhia Paranaense de Energia - Copel Unsponsored ADR (ELPC): Free Stock Analysis Report
NewJersey Resources Corporation (NJR): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).