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Has TransCanada (TRP) Outpaced Other Oils-Energy Stocks This Year?

Investors focused on the Oils-Energy space have likely heard of TransCanada (TRP), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.

TransCanada is a member of our Oils-Energy group, which includes 324 different companies and currently sits at #15 in the Zacks Sector Rank. 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 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. TRP is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for TRP's full-year earnings has moved 3.63% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, TRP has gained about 16.67% so far this year. In comparison, Oils-Energy companies have returned an average of 10.42%. This means that TransCanada is outperforming the sector as a whole this year.

Looking more specifically, TRP belongs to the Oil and Gas - Production and Pipelines industry, a group that includes 19 individual stocks and currently sits at #102 in the Zacks Industry Rank. Stocks in this group have gained about 15.78% so far this year, so TRP is performing better this group in terms of year-to-date returns.

Investors in the Oils-Energy sector will want to keep a close eye on TRP as it attempts 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.


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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