Are Utilities Stocks Lagging Consolidated Edison (ED) This Year?

Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Consolidated Edison (ED) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Consolidated Edison is one of 111 companies in the Utilities group. The Utilities group currently sits at #7 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Consolidated Edison is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for ED's full-year earnings has moved 0.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that ED has returned about 16.5% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of 1.3% on a year-to-date basis. This shows that Consolidated Edison is outperforming its peers so far this year.

Another Utilities stock, which has outperformed the sector so far this year, is Enel Chile (ENIC). The stock has returned 8% year-to-date.

Over the past three months, Enel Chile's consensus EPS estimate for the current year has increased 4.6%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Consolidated Edison belongs to the Utility - Electric Power industry, which includes 63 individual stocks and currently sits at #94 in the Zacks Industry Rank. On average, stocks in this group have gained 1.6% this year, meaning that ED is performing better in terms of year-to-date returns. Enel Chile is also part of the same industry.

Investors with an interest in Utilities stocks should continue to track Consolidated Edison and Enel Chile. These stocks will be looking to continue their solid performance.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research