Yahoo Finance Is Targa Resources (TRGP) Stock Outpacing Its Oils-Energy Peers This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Targa Resources, Inc. (TRGP) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Targa Resources, Inc. is one of 248 companies in the Oils-Energy group. The Oils-Energy group currently sits at #12 within 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. Targa Resources, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for TRGP's full-year earnings has moved 4.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, TRGP has gained about 4% so far this year. Meanwhile, the Oils-Energy sector has returned an average of -1.1% on a year-to-date basis. As we can see, Targa Resources, Inc. is performing better than its sector in the calendar year.
One other Oils-Energy stock that has outperformed the sector so far this year is YPF Sociedad Anonima (YPF). The stock is up 27.4% year-to-date.
In YPF Sociedad Anonima's case, the consensus EPS estimate for the current year increased 17.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Targa Resources, Inc. belongs to the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry, which includes 7 individual stocks and currently sits at #15 in the Zacks Industry Rank. Stocks in this group have gained about 5.5% so far this year, so TRGP is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, YPF Sociedad Anonima falls under the Oil and Gas - Integrated - International industry. Currently, this industry has 14 stocks and is ranked #38. Since the beginning of the year, the industry has moved +0.5%.
Investors with an interest in Oils-Energy stocks should continue to track Targa Resources, Inc. and YPF Sociedad Anonima. These stocks will be looking to continue their solid performance.
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Targa Resources, Inc. (TRGP) : Free Stock Analysis Report
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