Is MYR Group (MYRG) Outperforming Other Utilities Stocks This Year?

Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Has MYR Group (MYRG) been one of those stocks this year? 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.MYR Group is one of 110 companies in the Utilities group. The Utilities group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MYR Group is currently sporting a Zacks Rank of #1 (Strong Buy).The Zacks Consensus Estimate for MYRG's full-year earnings has moved 21.5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Our latest available data shows that MYRG has returned about 105.9% since the start of the calendar year. Meanwhile, the Utilities sector has returned an average of 6.1% on a year-to-date basis. As we can see, MYR Group is performing better than its sector in the calendar year.Another Utilities stock, which has outperformed the sector so far this year, is NextEra Energy (NEE). The stock has returned 7.3% year-to-date.For NextEra Energy, the consensus EPS estimate for the current year has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, MYR Group belongs to the Electric Construction industry, which includes 2 individual stocks and currently sits at #6 in the Zacks Industry Rank. Stocks in this group have lost about 64% so far this year, so MYRG is performing better this group in terms of year-to-date returns. NextEra Energy, however, belongs to the Utility - Electric Power industry. Currently, this 60-stock industry is ranked #109. The industry has moved +6.6% so far this year.Investors with an interest in Utilities stocks should continue to track MYR Group and NextEra Energy. These stocks will be looking to continue their solid performance.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks