For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Energy Transfer LP (ET) 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? Let’s take a closer look at the stock’s year-to-date performance to find out.
Energy Transfer LP is one of 248 companies in the Oils-Energy group. The Oils-Energy group currently sits at #12 within 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 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. Energy Transfer LP is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ET’s full-year earnings has moved 12.1% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, ET has moved about 7.3% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have lost about 1.7% on average. This shows that Energy Transfer LP is outperforming its peers so far this year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is JinkoSolar (JKS). The stock has returned 22.8% year-to-date.
The consensus estimate for JinkoSolar’s current year EPS has increased 15.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Energy Transfer LP belongs to the Oil and Gas – Production Pipeline – MLB industry, which includes 9 individual stocks and currently sits at #186 in the Zacks Industry Rank. Stocks in this group have gained about 8% so far this year, so ET is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, JinkoSolar falls under the Solar industry. Currently, this industry has 15 stocks and is ranked #78. Since the beginning of the year, the industry has moved -7.4%.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Energy Transfer LP and JinkoSolar as they could maintain their solid performance.
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