Is Brookfield Renewable (BEPC) Outperforming Other Oils-Energy Stocks This Year?
Investors interested in Oils-Energy stocks should always be looking to find the best-performing companies in the group. Brookfield Renewable Corporation (BEPC) 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? A quick glance at the company’s year-to-date performance in comparison to the rest of the Oils-Energy sector should help us answer this question.
Brookfield Renewable Corporation is a member of our Oils-Energy group, which includes 241 different companies and currently sits at #16 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Brookfield Renewable Corporation is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BEPC’s full-year earnings has moved 53.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, BEPC has returned 20% so far this year. At the same time, Oils-Energy stocks have gained an average of 0.9%. This means that Brookfield Renewable Corporation is performing better than its sector in terms of year-to-date returns.
One other Oils-Energy stock that has outperformed the sector so far this year is Flotek Industries (FTK). The stock is up 45.4% year-to-date.
The consensus estimate for Flotek Industries’ current year EPS has increased 6.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Brookfield Renewable Corporation belongs to the Alternative Energy – Other industry, a group that includes 41 individual stocks and currently sits at #165 in the Zacks Industry Rank. On average, stocks in this group have gained 32.5% this year, meaning that BEPC is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Flotek Industries belongs to the Oil and Gas – Field Services industry. This 23-stock industry is currently ranked #204. The industry has moved -11.4% year to date.
Investors with an interest in Oils-Energy stocks should continue to track Brookfield Renewable Corporation and Flotek Industries. These stocks will be looking to continue their solid performance.