Energy continues to suffer but SA Quant Metrics highlight some opportunities

The energy segment of the economy has been the weakest S&P sector performer in 2024 as it has returned 6.3% year-to-date which is lower than all other sectors and each of the major market averages. As markets look to close out the third quarter, energy continues to struggle, but there are some bright spots despite the segments suffering.

As a result, Seeking Alpha showcased the top ten energy stocks with a market capitalization’s of at least $10B, based on its quantitative metrics. Seeking Alpha’s quant ratings system grades stocks based on quantitative measures, such as profitability, momentum and valuation. Quant ratings are given on a scale of 1-5.

No. 10: Cenovus Energy (CVE), quant rating 3.77.

No. 9: Canadian Natural Resources Limited (CNQ), quant rating 3.82.

No. 8: Imperial Oil Limited (IMO), quant rating 3.83.

No. 7: ConocoPhillips (COP), quant rating 4.06.

No. 6: Suncor Energy (SU), quant rating 4.11.

No. 5: Western Midstream Partners (WES), quant rating 4.17.

No. 4: Enterprise Products Partners L.P (EPD), quant rating 4.22.

No. 3: Energy Transfer LP (ET), quant rating 4.27.

No. 2: MPLX LP (MPLX), quant rating 4.77.

No. 1: Baker Hughes Company (BKR), quant rating 4.82.

Year-to-date price action: CVE +4.2%, CNQ +5.6%, IMO +25%, COP -6.1%, SU +19.1%, WES +33.3%, EPD +11.9%, ET +17.4%, MPLX +22.8%, and BKR +6.3%.

Furthermore, for investors looking for a more diversified approach towards the Energy market, they can also look to analyze energy-focused exchange traded funds as an additional option.

Energy ETFs: (NYSEARCA:XLE), (AMLP), (VDE), (XOP), (OIH), and (IXC).