Yahoo Finance Is Energy Transfer (ET) Stock Outpacing Its Oils-Energy Peers This Year?
For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Energy Transfer LP (ET) 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.
Energy Transfer LP is one of 248 companies in the Oils-Energy group. The Oils-Energy group currently sits at #10 within 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. 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.
Based on the latest available data, ET has gained about 8.7% so far this year. Meanwhile, the Oils-Energy sector has returned an average of -2.2% on a year-to-date basis. As we can see, Energy Transfer LP is performing better than its sector in the calendar year.
Another Oils-Energy stock, which has outperformed the sector so far this year, is JinkoSolar (JKS). The stock has returned 37.4% year-to-date.
Over the past three months, JinkoSolar's consensus EPS estimate for the current year has increased 15.5%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Energy Transfer LP belongs to the Oil and Gas - Production Pipeline - MLB industry, a group that includes 9 individual stocks and currently sits at #85 in the Zacks Industry Rank. This group has gained an average of 8.1% so far this year, so ET is performing better in this area.
On the other hand, JinkoSolar belongs to the Solar industry. This 15-stock industry is currently ranked #62. The industry has moved +3.2% year to date.
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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