Has Clean Energy Fuels (CLNE) Outpaced Other Utilities Stocks This Year?
Investors focused on the Utilities space have likely heard of Clean Energy Fuels (CLNE), but is the stock performing well in comparison to the rest of its sector peers? 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 one of 109 individual stocks in the Utilities sector. Collectively, these companies sit at #13 in 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 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 108.57% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CLNE has returned about 8.40% since the start of the calendar year. At the same time, Utilities stocks have gained an average of 0.79%. This means that Clean Energy Fuels is outperforming the sector as a whole this year.
To break things down more, CLNE belongs to the Utility - Gas Distribution industry, a group that includes 17 individual companies and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have gained about 11.61% so far this year, so CLNE is slightly underperforming its industry this group in terms of year-to-date returns.
CLNE will likely be looking to continue its solid performance, so investors interested in Utilities stocks should continue to pay close attention to the company.
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Clean Energy Fuels Corp. (CLNE): Free Stock Analysis Report
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