Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is MYR Group (MYRG) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
MYR Group is one of 110 individual stocks in the Utilities sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. MYR Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MYRG's full-year earnings has moved 8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MYRG has gained about 37.5% so far this year. Meanwhile, stocks in the Utilities group have gained about 11.3% on average. This shows that MYR Group is outperforming its peers so far this year.
NiSource (NI) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 15.2%.
Over the past three months, NiSource's consensus EPS estimate for the current year has increased 0.5%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, MYR Group belongs to the Electric Construction industry, a group that includes 2 individual companies and currently sits at #8 in the Zacks Industry Rank. On average, stocks in this group have lost 72.9% this year, meaning that MYRG is performing better in terms of year-to-date returns.
NiSource, however, belongs to the Utility - Electric Power industry. Currently, this 60-stock industry is ranked #69. The industry has moved +12.6% so far this year.
Investors with an interest in Utilities stocks should continue to track MYR Group and NiSource. These stocks will be looking to continue their solid performance.
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MYR Group, Inc. (MYRG): Free Stock Analysis Report
NiSource, Inc (NI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).