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

Zacks
14 Mar

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Clearway Energy (CWENA) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.

Clearway Energy is a member of the Oils-Energy sector. This group includes 247 individual stocks and currently holds a Zacks Sector Rank of #6. 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 three months, the Zacks Consensus Estimate for CWENA's full-year earnings has moved 1.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, CWENA has returned 12.7% so far this year. In comparison, Oils-Energy companies have returned an average of -1.9%. As we can see, Clearway Energy is performing better than its sector in the calendar year.

Another stock in the Oils-Energy sector, Suncor Energy (SU), has outperformed the sector so far this year. The stock's year-to-date return is 0.4%.

Over the past three months, Suncor Energy's consensus EPS estimate for the current year has increased 19.4%. 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 #56 in the Zacks Industry Rank. On average, stocks in this group have lost 2.2% this year, meaning that CWENA is performing better in terms of year-to-date returns.

On the other hand, Suncor Energy belongs to the Oil and Gas - Integrated - Canadian industry. This 5-stock industry is currently ranked #160. The industry has moved -4.2% year to date.

Clearway Energy and Suncor Energy could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.

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

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