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Has ONEOK (OKE) Outpaced Other Utilities Stocks This Year?

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For those looking to find strong Utilities stocks, it is prudent to search for companies in the group that are outperforming their peers. Has ONEOK (OKE) 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 111 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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 #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for OKE's full-year earnings has moved 12.26% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, OKE has returned 11.62% so far this year. At the same time, Utilities stocks have gained an average of 1.56%. 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 16 individual stocks and currently sits at #126 in the Zacks Industry Rank. On average, stocks in this group have gained 2.02% 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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