For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Brookfield Renewable Energy Partners (BEP) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Brookfield Renewable Energy Partners is a member of our Utilities group, which includes 109 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Brookfield Renewable Energy Partners is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BEP's full-year earnings has moved 4.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BEP has moved about 24% on a year-to-date basis. In comparison, Utilities companies have returned an average of 21.8%. This shows that Brookfield Renewable Energy Partners is outperforming its peers so far this year.
Another stock in the Utilities sector, Energias de Portugal (EDPFY), has outperformed the sector so far this year. The stock's year-to-date return is 35.6%.
In Energias de Portugal's case, the consensus EPS estimate for the current year increased 8.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Brookfield Renewable Energy Partners is a member of the Utility - Electric Power industry, which includes 59 individual companies and currently sits at #60 in the Zacks Industry Rank. On average, this group has gained an average of 26.1% so far this year, meaning that BEP is slightly underperforming its industry in terms of year-to-date returns. Energias de Portugal is also part of the same industry.
Going forward, investors interested in Utilities stocks should continue to pay close attention to Brookfield Renewable Energy Partners and Energias de Portugal as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
