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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? Let's take a closer look at the stock's year-to-date performance to find out.

ONEOK is one of 122 companies in the Utilities group. The Utilities group currently sits at #10 within the Zacks Sector Rank. 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 90 days, the Zacks Consensus Estimate for OKE's full-year earnings has moved 0.55% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, OKE has returned 26.64% so far this year. At the same time, Utilities stocks have gained an average of 14.17%. This shows that ONEOK is outperforming its peers so far this year.

To break things down more, OKE belongs to the Utility - Gas Distribution industry, a group that includes 18 individual companies and currently sits at #98 in the Zacks Industry Rank. On average, this group has gained an average of 19.40% so far this year, meaning that OKE is performing better in terms of year-to-date returns.

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.


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