Investors focused on the Utilities space have likely heard of Duke Energy (DUK), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question.
Duke Energy is a member of our Utilities group, which includes 125 different companies and currently sits at #9 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 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. DUK is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DUK's full-year earnings has moved 0.46% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, DUK has moved about 7.94% on a year-to-date basis. Meanwhile, stocks in the Utilities group have gained about 3.13% on average. This shows that Duke Energy is outperforming its peers so far this year.
To break things down more, DUK belongs to the Utility - Electric Power industry, a group that includes 66 individual companies and currently sits at #106 in the Zacks Industry Rank. Stocks in this group have gained about 7.29% so far this year, so DUK is performing better this group in terms of year-to-date returns.
Investors in the Utilities sector will want to keep a close eye on DUK as it attempts to continue its solid performance.
Duke Energy Corporation (NYSE:DUK): Free Stock Analysis Report
Original post
Zacks Investment Research