Is Edison International (EIX) Stock Outpacing Its Utilities Peers This Year?

For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Edison International (EIX) 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.

Edison International is one of 111 companies in the Utilities group. The Utilities group currently sits at #14 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. Edison International is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for EIX's full-year earnings has moved 0% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, EIX has moved about 28.7% on a year-to-date basis. Meanwhile, the Utilities sector has returned an average of 6.1% on a year-to-date basis. This means that Edison International is performing better than its sector in terms of year-to-date returns.

One other Utilities stock that has outperformed the sector so far this year is New Jersey Resources (NJR). The stock is up 27% year-to-date.

Over the past three months, New Jersey Resources' consensus EPS estimate for the current year has increased 5.9%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Edison International belongs to the Utility - Electric Power industry, which includes 63 individual stocks and currently sits at #154 in the Zacks Industry Rank. This group has gained an average of 7.2% so far this year, so EIX 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 #189. Since the beginning of the year, the industry has moved +5.4%.

Investors with an interest in Utilities stocks should continue to track Edison International and New Jersey Resources. These stocks will be looking to continue their solid performance.

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

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