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Is CenterPoint Energy (CNP) Stock Outpacing Its Utilities Peers This Year?

Zacks Equity Research
·2-min read

For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has CenterPoint Energy (CNP) 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.

CenterPoint Energy is a member of the Utilities sector. This group includes 108 individual stocks and currently holds a Zacks Sector Rank of #5. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CenterPoint Energy is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CNP's full-year earnings has moved 0.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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According to our latest data, CNP has moved about 12.5% on a year-to-date basis. In comparison, Utilities companies have returned an average of 3.2%. This means that CenterPoint Energy is outperforming the sector as a whole this year.

Southern Co. (SO) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13.7%.

In Southern Co.'s case, the consensus EPS estimate for the current year increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, CenterPoint Energy is a member of the Utility - Electric Power industry, which includes 61 individual companies and currently sits at #73 in the Zacks Industry Rank. This group has gained an average of 3.9% so far this year, so CNP is performing better in this area. Southern Co. is also part of the same industry.

Investors interested in the Utilities sector may want to keep a close eye on CenterPoint Energy and Southern Co. as they attempt to continue their solid performance.


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CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report
 
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