The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is ONEOK (OKE) one of those stocks right now? 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 one of 111 individual stocks in the Utilities sector. Collectively, these companies sit at #12 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 15.41% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, OKE has moved about 3.78% on a year-to-date basis. Meanwhile, stocks in the Utilities group have gained about 0.64% on average. 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 16 individual stocks and currently sits at #120 in the Zacks Industry Rank. On average, stocks in this group have lost 3.78% 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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