Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Is Avangrid (AGR) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.
Avangrid is one of 105 companies in the Utilities group. The Utilities group currently sits at #8 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Avangrid is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AGR's full-year earnings has moved 4.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, AGR has moved about 9.5% on a year-to-date basis. Meanwhile, stocks in the Utilities group have gained about 8.6% on average. This means that Avangrid is outperforming the sector as a whole this year.
Another Utilities stock, which has outperformed the sector so far this year, is CenterPoint Energy (CNP). The stock has returned 10.1% year-to-date.
The consensus estimate for CenterPoint Energy's current year EPS has increased 0.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Avangrid is a member of the Utility - Electric Power industry, which includes 60 individual companies and currently sits at #128 in the Zacks Industry Rank. This group has gained an average of 11.8% so far this year, so AGR is slightly underperforming its industry in this area. CenterPoint Energy is also part of the same industry.
Investors with an interest in Utilities stocks should continue to track Avangrid and CenterPoint Energy. These stocks will be looking to continue their solid performance.
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