Is Consolidated Edison (ED) Performing Better Than Other Utility Stocks This Year?

Top Performers in the Utilities Sector: A Closer Look

When evaluating Utilities stocks, it's important for investors to identify companies that are delivering standout results within the sector. Consolidated Edison (ED) is one such stock that has caught the eye of many, but how does its recent performance measure up against its industry peers? Comparing its year-to-date returns with the broader Utilities sector offers valuable insight.

Consolidated Edison operates within the Utilities sector, which is made up of 107 stocks and currently holds a Zacks Sector Rank of #6. This ranking reflects the collective strength of the sector, based on the average Zacks Rank of its constituents.

The Zacks Rank is a proven stock selection tool that focuses on earnings forecasts and revisions. It highlights stocks that may outperform the overall market in the coming one to three months. At present, Consolidated Edison holds a Zacks Rank of #2 (Buy).

In the last three months, analysts have raised their full-year earnings projections for ED by 1.5%, indicating growing optimism about the company’s financial outlook.

Recent data shows that ED has achieved a return of approximately 13.3% since the beginning of the year. By comparison, the Utilities sector as a whole has posted an average return of 11.6% over the same period. This demonstrates that Consolidated Edison is outperforming its sector so far this year.

Another Utilities stock that has surpassed the sector’s average is FirstEnergy (FE), which has gained 13.5% year-to-date.

For FirstEnergy, consensus earnings per share estimates have increased by 0.6% over the past quarter, and the stock also carries a Zacks Rank of #2 (Buy).

Delving deeper, Consolidated Edison is part of the Utility - Electric Power industry, which consists of 58 companies and currently ranks #85 according to Zacks Industry Rank. This group has seen an average gain of 12.2% so far this year, meaning ED is ahead of its industry peers in terms of returns. FirstEnergy is also included in this industry group.

Looking ahead, investors with an interest in Utilities stocks should keep a close watch on both Consolidated Edison and FirstEnergy, as their strong performance may continue.

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