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Has Bloom Energy (BE) Outpaced Other Oils-Energy Stocks This Year?

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Bloom Energy (BE) 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.

Bloom Energy is a member of the Oils-Energy sector. This group includes 269 individual stocks and currently holds a Zacks Sector Rank of #10. 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. BE is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for BE's full-year earnings has moved 36.43% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, BE has moved about 118.74% on a year-to-date basis. Meanwhile, the Oils-Energy sector has returned an average of -33.30% on a year-to-date basis. This means that Bloom Energy is performing better than its sector in terms of year-to-date returns.

Looking more specifically, BE belongs to the Alternative Energy - Other industry, a group that includes 16 individual stocks and currently sits at #199 in the Zacks Industry Rank. Stocks in this group have lost about 11.10% so far this year, so BE is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to BE as it looks to continue its solid performance.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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