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Is ONEOK (OKE) Stock Outpacing Its Utilities Peers This Year?

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Investors interested in Utilities stocks should always be looking to find the best-performing companies in the group. Has ONEOK (OKE - Free Report) 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.

ONEOK is a member of the Utilities sector. This group includes 122 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. OKE is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for OKE's full-year earnings has moved 1.36% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, OKE has moved about 38.05% on a year-to-date basis. Meanwhile, stocks in the Utilities group have gained about 16.70% on average. As we can see, ONEOK is performing better than its sector in the calendar year.

Looking more specifically, OKE belongs to the Utility - Gas Distribution industry, which includes 18 individual stocks and currently sits at #79 in the Zacks Industry Rank. Stocks in this group have gained about 23.96% so far this year, so OKE is performing better this group in terms of year-to-date returns.

Investors with an interest in Utilities stocks should continue to track OKE. The stock will be looking to continue its solid performance.


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