Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Altus Power, Inc. (AMPS – Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let’s take a closer look at the stock’s year-to-date performance to find out.
Altus Power, Inc. is a member of our Oils-Energy group, which includes 247 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Altus Power, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMPS’ full-year earnings has moved 2.1% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that AMPS has returned about 21.4% since the start of the calendar year. In comparison, Oils-Energy companies have returned an average of 4.5%. This shows that Altus Power, Inc. is outperforming its peers so far this year.
Another stock in the Oils-Energy sector, Magnolia Oil & Gas Corp (MGY – Free Report) , has outperformed the sector so far this year. The stock’s year-to-date return is 8.3%.
In Magnolia Oil & Gas Corp’s case, the consensus EPS estimate for the current year increased 8.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Altus Power, Inc. is a member of the Alternative Energy – Other industry, which includes 47 individual companies and currently sits at #82 in the Zacks Industry Rank. Stocks in this group have gained about 2.7% so far this year, so AMPS is performing better this group in terms of year-to-date returns.
On the other hand, Magnolia Oil & Gas Corp belongs to the Oil and Gas – Exploration and Production – United States industry. This 34-stock industry is currently ranked #71. The industry has moved -17.4% year to date.
Investors with an interest in Oils-Energy stocks should continue to track Altus Power, Inc. and Magnolia Oil & Gas Corp. These stocks will be looking to continue their solid performance.
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