The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is E.ON SE (EONGY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
E.ON SE is one of 103 companies in the Utilities group. The Utilities group currently sits at #4 within 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 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. E.ON SE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for EONGY's full-year earnings has moved 10.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, EONGY has moved about 21.3% on a year-to-date basis. At the same time, Utilities stocks have lost an average of 2.7%. This means that E.ON SE is outperforming the sector as a whole this year.
One other Utilities stock that has outperformed the sector so far this year is MYR Group (MYRG). The stock is up 48.3% year-to-date.
For MYR Group, the consensus EPS estimate for the current year has increased 7.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, E.ON SE belongs to the Utility - Electric Power industry, which includes 58 individual stocks and currently sits at #58 in the Zacks Industry Rank. Stocks in this group have lost about 4.5% so far this year, so EONGY is performing better this group in terms of year-to-date returns.
In contrast, MYR Group falls under the Electric Construction industry. Currently, this industry has 1 stocks and is ranked #8. Since the beginning of the year, the industry has moved +48.3%.
E.ON SE and MYR Group could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
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