Is Constellation Energy Corporation (CEG) Stock Outpacing Its Oils-Energy Peers This Year?
The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Constellation Energy Corporation (CEG) 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? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.
Constellation Energy Corporation is a member of the Oils-Energy sector. This group includes 246 individual stocks and currently holds a Zacks Sector Rank of #13. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Constellation Energy Corporation is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CEG's full-year earnings has moved 34.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CEG has moved about 22.7% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 3.4% on average. As we can see, Constellation Energy Corporation 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 Sunoco LP (SUN). The stock is up 6.4% year-to-date.
For Sunoco LP, the consensus EPS estimate for the current year has increased 9.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Constellation Energy Corporation belongs to the Alternative Energy - Other industry, a group that includes 40 individual companies and currently sits at #93 in the Zacks Industry Rank. On average, this group has lost an average of 5.5% so far this year, meaning that CEG is performing better in terms of year-to-date returns.
On the other hand, Sunoco LP belongs to the Oil and Gas - Refining and Marketing - Master Limited Partnerships industry. This 7-stock industry is currently ranked #107. The industry has moved +13.2% year to date.
Investors with an interest in Oils-Energy stocks should continue to track Constellation Energy Corporation and Sunoco LP. These stocks will be looking to continue their solid performance.
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