Is Consolidated Edison (ED) Stock Outpacing Its Utilities Peers This Year?
The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Consolidated Edison (ED) one of those stocks right now? 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 a member of the Utilities sector. This group includes 104 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. Consolidated Edison is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ED's full-year earnings has moved 1.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ED has gained about 11.2% so far this year. In comparison, Utilities companies have returned an average of -3.7%. This means that Consolidated Edison is performing better than its sector in terms of year-to-date returns.
NTT (NTTYY) is another Utilities stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 0.2%.
The consensus estimate for NTT's current year EPS has increased 4.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Consolidated Edison belongs to the Utility - Electric Power industry, a group that includes 58 individual stocks and currently sits at #75 in the Zacks Industry Rank. This group has lost an average of 2.4% so far this year, so ED is performing better in this area.
In contrast, NTT falls under the Diversified Communication Services industry. Currently, this industry has 13 stocks and is ranked #79. Since the beginning of the year, the industry has moved -14.1%.
Investors interested in the Utilities sector may want to keep a close eye on Consolidated Edison and NTT as they attempt to continue their solid performance.
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