Has Enphase Energy (ENPH) Outpaced Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Is Enphase Energy (ENPH) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Enphase Energy is one of 254 companies in the Oils-Energy group. The Oils-Energy group currently sits at #1 within the Zacks Sector Rank. 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 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. Enphase Energy is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ENPH's full-year earnings has moved 5.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ENPH has moved about 18.3% on a year-to-date basis. At the same time, Oils-Energy stocks have gained an average of 16.8%. As we can see, Enphase Energy is performing better than its sector in the calendar year.
Another stock in the Oils-Energy sector, Alliance Resource Partners, L.P. (ARLP), has outperformed the sector so far this year. The stock's year-to-date return is 58.7%.
In Alliance Resource Partners, L.P.'s case, the consensus EPS estimate for the current year increased 25.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Enphase Energy belongs to the Solar industry, which includes 17 individual stocks and currently sits at #90 in the Zacks Industry Rank. On average, this group has lost an average of 3.9% so far this year, meaning that ENPH is performing better in terms of year-to-date returns.
In contrast, Alliance Resource Partners, L.P. falls under the Coal industry. Currently, this industry has 8 stocks and is ranked #18. Since the beginning of the year, the industry has moved +55%.
Enphase Energy and Alliance Resource Partners, L.P. could continue their solid performance, so investors interested in Oils-Energy stocks should continue to pay close attention to these stocks.
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