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Is Enphase Energy (ENPH) Outperforming Other Oils-Energy Stocks This Year?

Zacks Equity Research
BCB Bancorp (BCBP) delivered earnings and revenue surprises of 7.14% and -2.34%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

The Oils-Energy group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Enphase Energy (ENPH) one of those stocks right now? 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.

Enphase Energy is one of 311 companies in the Oils-Energy group. The Oils-Energy group currently sits at #4 within the Zacks Sector Rank. 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. ENPH is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ENPH's full-year earnings has moved 181.25% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, ENPH has gained about 209.72% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 10.71% on average. This means that Enphase Energy is performing better than its sector in terms of year-to-date returns.

Looking more specifically, ENPH belongs to the Solar industry, which includes 12 individual stocks and currently sits at #75 in the Zacks Industry Rank. On average, this group has gained an average of 52.25% so far this year, meaning that ENPH is performing better in terms of year-to-date returns.

Investors with an interest in Oils-Energy stocks should continue to track ENPH. The stock will be looking to continue its solid performance.


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