The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Enbridge (ENB) 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 ENB and the rest of the Oils-Energy group's stocks.
Enbridge is a member of the Oils-Energy sector. This group includes 308 individual stocks and currently holds a Zacks Sector Rank of #13. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ENB is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ENB's full-year earnings has moved 5.88% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ENB has moved about 14.61% on a year-to-date basis. At the same time, Oils-Energy stocks have an average of 0%. This means that Enbridge is outperforming the sector as a whole this year.
Breaking things down more, ENB is a member of the Oil and Gas - Production and Pipelines industry, which includes 15 individual companies and currently sits at #160 in the Zacks Industry Rank. Stocks in this group have gained about 13.48% so far this year, so ENB is performing better this group in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track ENB. The stock will be looking to continue its solid performance.
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