Is Energy Transfer (ET) Outperforming Other Oils-Energy Stocks This Year?
Investors focused on the Oils-Energy space have likely heard of Energy Transfer (ET), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Energy Transfer is one of 247 individual stocks in the Oils-Energy sector. Collectively, these companies sit at #10 in 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 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. ET is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ET's full-year earnings has moved 72.80% higher within the past quarter. 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 77.02% so far this year. Meanwhile, stocks in the Oils-Energy group have gained about 29.04% on average. This means that Energy Transfer is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ET belongs to the Oil and Gas - Production Pipeline - MLB industry, a group that includes 14 individual stocks and currently sits at #122 in the Zacks Industry Rank. On average, this group has gained an average of 44.22% so far this year, meaning that ET is performing better in terms of year-to-date returns.
Investors in the Oils-Energy sector will want to keep a close eye on ET as it attempts to continue its solid performance.
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