Is MYR Group (MYRG) Stock Outpacing Its Utilities Peers This Year?

The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has MYR Group (MYRG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.MYR Group is a member of the Utilities sector. This group includes 108 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. MYR Group is currently sporting a Zacks Rank of #2 (Buy).The Zacks Consensus Estimate for MYRG's full-year earnings has moved 5.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.Based on the latest available data, MYRG has gained about 26% so far this year. Meanwhile, the Utilities sector has returned an average of 12.8% on a year-to-date basis. This means that MYR Group is performing better than its sector in terms of year-to-date returns.Another stock in the Utilities sector, Telenor ASA (TELNY), has outperformed the sector so far this year. The stock's year-to-date return is 42.1%.Over the past three months, Telenor ASA's consensus EPS estimate for the current year has increased 11.3%. The stock currently has a Zacks Rank #1 (Strong Buy).To break things down more, MYR Group belongs to the Electric Construction industry, a group that includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have gained 26% this year, meaning that MYRG is performing on par in terms of year-to-date returns. On the other hand, Telenor ASA belongs to the Diversified Communication Services industry. This 19-stock industry is currently ranked #49. The industry has moved +16.8% year to date.Going forward, investors interested in Utilities stocks should continue to pay close attention to MYR Group and Telenor ASA as they could maintain their solid performance.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MYR Group, Inc. (MYRG): Free Stock Analysis Report Telenor ASA (TELNY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks