Has MYR Group (MYRG) Outpaced Other Utilities Stocks This Year?
For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has MYR Group (MYRG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
MYR Group is one of 103 individual stocks in the Utilities sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MYR Group is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MYRG's full-year earnings has moved 8.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MYRG has moved about 34.4% on a year-to-date basis. Meanwhile, stocks in the Utilities group have gained about 2% on average. This means that MYR Group is outperforming the sector as a whole this year.
Another stock in the Utilities sector, NiSource (NI), has outperformed the sector so far this year. The stock's year-to-date return is 4.1%.
In NiSource's case, the consensus EPS estimate for the current year increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MYR Group belongs to the Electric Construction industry, which includes 1 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have gained 34.4% this year, meaning that MYRG is performing on par in terms of year-to-date returns.
In contrast, NiSource falls under the Utility - Electric Power industry. Currently, this industry has 58 stocks and is ranked #98. Since the beginning of the year, the industry has moved +0.5%.
MYR Group and NiSource could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
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MYR Group, Inc. (MYRG) : Free Stock Analysis Report
NiSource, Inc (NI) : Free Stock Analysis Report
