Is Comp En De Mn Cemig (CIG) Outperforming Other Utilities Stocks This Year?
Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Has Cemig (CIG) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Cemig is a member of our Utilities group, which includes 105 different companies and currently sits at #6 in the Zacks Sector Rank. 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 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. Cemig is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CIG's full-year earnings has moved 61.4% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that CIG has returned about 17.7% since the start of the calendar year. Meanwhile, stocks in the Utilities group have gained about 14.4% on average. This shows that Cemig is outperforming its peers so far this year.
Another stock in the Utilities sector, National Fuel Gas (NFG), has outperformed the sector so far this year. The stock's year-to-date return is 18.8%.
For National Fuel Gas, the consensus EPS estimate for the current year has increased 2.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Cemig belongs to the Utility - Electric Power industry, a group that includes 59 individual companies and currently sits at #65 in the Zacks Industry Rank. On average, stocks in this group have gained 18.1% this year, meaning that CIG is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, National Fuel Gas belongs to the Utility - Gas Distribution industry. This 14-stock industry is currently ranked #46. The industry has moved +11.6% year to date.
Cemig and National Fuel Gas could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.
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Comp En De Mn Cemig ADS (CIG) : Free Stock Analysis Report
National Fuel Gas Company (NFG) : Free Stock Analysis Report