Yahoo Finance Has Enphase Energy (ENPH) Outpaced Other Oils-Energy Stocks 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. Has Enphase Energy (ENPH) 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 Oils-Energy sector should help us answer this question.
Enphase Energy is a member of our Oils-Energy group, which includes 247 different companies and currently sits 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 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. Enphase Energy is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ENPH's full-year earnings has moved 9.9% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ENPH has gained about 69.3% so far this year. In comparison, Oils-Energy companies have returned an average of 35.5%. This shows that Enphase Energy is outperforming its peers so far this year.
NexTier Oilfield Solutions (NEX) is another Oils-Energy stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 160.9%.
Over the past three months, NexTier Oilfield Solutions' consensus EPS estimate for the current year has increased 11%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Enphase Energy belongs to the Solar industry, a group that includes 16 individual stocks and currently sits at #152 in the Zacks Industry Rank. On average, stocks in this group have gained 24.7% this year, meaning that ENPH is performing better in terms of year-to-date returns.
NexTier Oilfield Solutions, however, belongs to the Oil and Gas - Field Services industry. Currently, this 25-stock industry is ranked #23. The industry has moved +16.1% so far this year.
Going forward, investors interested in Oils-Energy stocks should continue to pay close attention to Enphase Energy and NexTier Oilfield Solutions as they could maintain their solid performance.
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Enphase Energy, Inc. (ENPH) : Free Stock Analysis Report
NexTier Oilfield Solutions Inc. (NEX) : Free Stock Analysis Report
