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Are Utilities Stocks Lagging Consolidated Edison (ED) This Year?

Zacks Equity Research
·2 min read

Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Has Consolidated Edison (ED) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.

Consolidated Edison is one of 106 companies in the Utilities group. The Utilities group currently sits at #7 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. Consolidated Edison is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ED's full-year earnings has moved 0.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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Based on the most recent data, ED has returned 0.3% so far this year. In comparison, Utilities companies have returned an average of 0.1%. This shows that Consolidated Edison is outperforming its peers so far this year.

Another stock in the Utilities sector, PPL (PPL), has outperformed the sector so far this year. The stock's year-to-date return is 4%.

For PPL, the consensus EPS estimate for the current year has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Consolidated Edison belongs to the Utility - Electric Power industry, which includes 59 individual stocks and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 1.1% so far this year, so ED is slightly underperforming its industry in this area. PPL is also part of the same industry.

Investors interested in the Utilities sector may want to keep a close eye on Consolidated Edison and PPL as they attempt to continue their solid performance.

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Consolidated Edison Inc (ED) : Free Stock Analysis Report

PPL Corporation (PPL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research