Has Clean Energy Fuels (CLNE) Outpaced Other Utilities Stocks This Year?
The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Clean Energy Fuels (CLNE) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CLNE and the rest of the Utilities group's stocks.
Clean Energy Fuels is a member of the Utilities sector. This group includes 123 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. CLNE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CLNE's full-year earnings has moved 29.41% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, CLNE has moved about 66.28% on a year-to-date basis. At the same time, Utilities stocks have gained an average of 11.24%. This shows that Clean Energy Fuels is outperforming its peers so far this year.
Breaking things down more, CLNE is a member of the Utility - Gas Distribution industry, which includes 18 individual companies and currently sits at #67 in the Zacks Industry Rank. On average, stocks in this group have gained 17.61% this year, meaning that CLNE is performing better in terms of year-to-date returns.
Going forward, investors interested in Utilities stocks should continue to pay close attention to CLNE as it looks to continue its solid performance.
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