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Is CenterPoint Energy (CNP) Outperforming Other Utilities Stocks 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 one of 108 individual stocks in the Utilities sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. 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).

The Zacks Consensus Estimate for CNP's full-year earnings has moved 0.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Our latest available data shows that CNP has returned about 13.4% since the start of the calendar year. At the same time, Utilities stocks have lost an average of 0.5%. As we can see, CenterPoint Energy is performing better than its sector in the calendar year.

Another Utilities stock, which has outperformed the sector so far this year, is New Jersey Resources (NJR). The stock has returned 7.5% year-to-date.

The consensus estimate for New Jersey Resources' current year EPS has increased 5.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, CenterPoint Energy belongs to the Utility - Electric Power industry, which includes 61 individual stocks and currently sits at #73 in the Zacks Industry Rank. On average, this group has gained an average of 0.6% so far this year, meaning that CNP is performing better in terms of year-to-date returns.

In contrast, New Jersey Resources falls under the Utility - Gas Distribution industry. Currently, this industry has 15 stocks and is ranked #44. Since the beginning of the year, the industry has moved +12.1%.

CenterPoint Energy and New Jersey Resources could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.


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Zacks Investment Research