Has MDU Resources Group (MDU) Outpaced Other Utilities Stocks This Year?

For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has MDU Resources (MDU) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Utilities peers, we might be able to answer that question.

MDU Resources is a member of the Utilities sector. This group includes 111 individual stocks and currently holds a Zacks Sector Rank of #14. 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 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. MDU Resources is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for MDU's full-year earnings has moved 0.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, MDU has gained about 2.3% so far this year. Meanwhile, stocks in the Utilities group have gained about 1.4% on average. This shows that MDU Resources is outperforming its peers so far this year.

Another stock in the Utilities sector, Pinnacle West (PNW), has outperformed the sector so far this year. The stock's year-to-date return is 10.2%.

The consensus estimate for Pinnacle West's current year EPS has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, MDU Resources belongs to the Utility - Gas Distribution industry, a group that includes 13 individual stocks and currently sits at #159 in the Zacks Industry Rank. On average, stocks in this group have gained 2.3% this year, meaning that MDU is slightly underperforming its industry in terms of year-to-date returns.

On the other hand, Pinnacle West belongs to the Utility - Electric Power industry. This 63-stock industry is currently ranked #154. The industry has moved +2% year to date.

MDU Resources and Pinnacle West could continue their solid performance, so investors interested in Utilities stocks should continue to pay close attention to these stocks.

Radical New Technology Could Hand Investors Huge Gains

Quantum Computing is the next technological revolution, and it could be even more advanced than AI.

While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.

Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.

Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.

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

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research