Investors focused on the Oils-Energy space have likely heard of TC Energy (TRP), 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.
TC Energy is one of 295 companies in the Oils-Energy group. The Oils-Energy group currently sits at #9 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 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. TRP is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TRP's full-year earnings has moved 1.21% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, TRP has returned 2.49% so far this year. Meanwhile, the Oils-Energy sector has returned an average of -7.58% on a year-to-date basis. This shows that TC Energy is outperforming its peers so far this year.
To break things down more, TRP belongs to the Alternative Energy - Other industry, a group that includes 18 individual companies and currently sits at #53 in the Zacks Industry Rank. Stocks in this group have lost about 0.92% so far this year, so TRP is performing better this group in terms of year-to-date returns.
Investors with an interest in Oils-Energy stocks should continue to track TRP. The stock will be looking to continue its solid performance.
TC Energy Corporation (TRP): Free Stock Analysis Report
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Zacks Investment Research