Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. CenterPoint Energy (CNP) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
CenterPoint Energy is a member of the Utilities sector. This group includes 111 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CNP's full-year earnings has moved 0.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CNP has moved about 0.5% on a year-to-date basis. At the same time, Utilities stocks have lost an average of 3.3%. This means that CenterPoint Energy 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 Consolidated Edison (ED). The stock is up 5.4% year-to-date.
For Consolidated Edison, the consensus EPS estimate for the current year has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, CenterPoint Energy is a member of the Utility - Electric Power industry, which includes 63 individual companies and currently sits at #103 in the Zacks Industry Rank. This group has lost an average of 3.3% so far this year, so CNP is performing better in this area. Consolidated Edison is also part of the same industry.
Going forward, investors interested in Utilities stocks should continue to pay close attention to CenterPoint Energy and Consolidated Edison as they could maintain their solid performance.
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CenterPoint Energy, Inc. (CNP): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).