For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Ballard Power Systems (BLDP) been one of those stocks this year? 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.
Ballard Power Systems is one of 111 individual stocks in the Utilities sector. Collectively, these companies sit at #15 in the Zacks Sector Rank. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Ballard Power Systems is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BLDP's full-year earnings has moved 25.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BLDP has gained about 27.2% so far this year. Meanwhile, the Utilities sector has returned an average of 6.9% on a year-to-date basis. As we can see, Ballard Power Systems is performing better than its sector in the calendar year.
Another Utilities stock, which has outperformed the sector so far this year, is FirstEnergy (FE). The stock has returned 7.4% year-to-date.
For FirstEnergy, the consensus EPS estimate for the current year has increased 0.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Ballard Power Systems belongs to the Utility - Electric Power industry, which includes 63 individual stocks and currently sits at #108 in the Zacks Industry Rank. This group has gained an average of 8.5% so far this year, so BLDP is performing better in this area. FirstEnergy is also part of the same industry.
Investors interested in the Utilities sector may want to keep a close eye on Ballard Power Systems and FirstEnergy as they attempt to continue their solid performance.
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power .
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>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
Ballard Power Systems, Inc. (BLDP): Free Stock Analysis Report
FirstEnergy Corporation (FE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).