Is Enbridge (ENB) Outperforming Other Oils-Energy Stocks This Year?

Zacks Equity Research
·2 min read

Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Has Enbridge (ENB) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Enbridge is one of 251 companies in the Oils-Energy group. The Oils-Energy group currently sits at #8 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. ENB is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ENB's full-year earnings has moved 0.80% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, ENB has gained about 16.66% so far this year. At the same time, Oils-Energy stocks have gained an average of 16.05%. This means that Enbridge is outperforming the sector as a whole this year.

Looking more specifically, ENB belongs to the Oil and Gas - Production and Pipelines industry, a group that includes 13 individual stocks and currently sits at #103 in the Zacks Industry Rank. This group has gained an average of 20.64% so far this year, so ENB is slightly underperforming its industry in this area.

Investors with an interest in Oils-Energy stocks should continue to track ENB. The stock will be looking to continue its solid performance.


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