Yahoo Finance Is MGE Energy (MGEE) Outperforming Other Utilities Stocks This Year?
For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. MGE (MGEE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
MGE is one of 106 individual stocks in the Utilities sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MGE is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MGEE's full-year earnings has moved 0.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MGEE has returned about 5.1% since the start of the calendar year. Meanwhile, stocks in the Utilities group have lost about 1.5% on average. This shows that MGE is outperforming its peers so far this year.
One other Utilities stock that has outperformed the sector so far this year is PSEG (PEG). The stock is up 19.5% year-to-date.
Over the past three months, PSEG's consensus EPS estimate for the current year has increased 0.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, MGE is a member of the Utility - Electric Power industry, which includes 59 individual companies and currently sits at #93 in the Zacks Industry Rank. On average, this group has lost an average of 0.5% so far this year, meaning that MGEE is performing better in terms of year-to-date returns. PSEG is also part of the same industry.
Investors interested in the Utilities sector may want to keep a close eye on MGE and PSEG as they attempt to continue their solid performance.
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MGE Energy Inc. (MGEE) : Free Stock Analysis Report
Public Service Enterprise Group Incorporated (PEG) : Free Stock Analysis Report