Investors focused on the Utilities space have likely heard of ONEOK (OKE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
ONEOK is one of 122 individual stocks in the Utilities sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. OKE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for OKE's full-year earnings has moved 1.98% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, OKE has moved about 28.99% on a year-to-date basis. In comparison, Utilities companies have returned an average of 13.98%. This means that ONEOK is outperforming the sector as a whole this year.
Looking more specifically, OKE belongs to the Utility - Gas Distribution industry, which includes 18 individual stocks and currently sits at #105 in the Zacks Industry Rank. This group has gained an average of 20.36% so far this year, so OKE is performing better in this area.
OKE will likely be looking to continue its solid performance, so investors interested in Utilities stocks should continue to pay close attention to the company.