Is Clearway Energy (CWEN) Stock Outpacing Its Oils-Energy Peers This Year?

Zacks
02-24

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Clearway Energy (CWEN) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Clearway Energy is a member of our Oils-Energy group, which includes 247 different companies and currently sits at #7 in 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 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. Clearway Energy is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CWEN's full-year earnings has moved 156.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Our latest available data shows that CWEN has returned about 5.5% since the start of the calendar year. Meanwhile, stocks in the Oils-Energy group have gained about 3.4% on average. This shows that Clearway Energy is outperforming its peers so far this year.

Another stock in the Oils-Energy sector, Enterprise Products Partners (EPD), has outperformed the sector so far this year. The stock's year-to-date return is 6.3%.

Over the past three months, Enterprise Products Partners' consensus EPS estimate for the current year has increased 2.2%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Clearway Energy belongs to the Alternative Energy - Other industry, a group that includes 47 individual stocks and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 6.9% so far this year, so CWEN is slightly underperforming its industry this group in terms of year-to-date returns.

Enterprise Products Partners, however, belongs to the Oil and Gas - Production Pipeline - MLB industry. Currently, this 6-stock industry is ranked #19. The industry has moved +2.2% so far this year.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Clearway Energy and Enterprise Products Partners as they could maintain their solid performance.

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Clearway Energy, Inc. (CWEN) : Free Stock Analysis Report

Enterprise Products Partners L.P. (EPD) : Free Stock Analysis Report

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

Zacks Investment Research

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