5 Best Dividend Stocks According To Jim Cramer

3. ONEOK, Inc. (NYSE:OKE)

Dividend Yield as of December 2: 5.57%

ONEOK, Inc. (NYSE:OKE) is another dividend stock that is recommended by Jim Cramer in the current market situation. It is an American natural gas transmission company. Cramer holds a positive stance on the energy sector and highlighted the company’s high dividend yield. In Q3 2022, the company reported revenue of roughly $6 billion, which is up 30.3% from the same period last year. Its net income for the quarter came in at $431.8 million, which showed a 10% increase from the prior-year period.

ONEOK, Inc. (NYSE:OKE) offers over 25 years of dividend stability and has raised its dividends at a CAGR of 13% from 2000 to 2021. The company’s consistent dividends and strong cash make it one of the best dividend stocks on our list. It currently pays a quarterly dividend of $0.935 per share and has a dividend yield of 5.57%, as of December 2.

In October, Morgan Stanley maintained an Equal Weight rating on ONEOK, Inc. (NYSE:OKE) with a $70 price target.

As of the close of Q3 2022, 29 hedge funds tracked by Insider Monkey owned stakes in ONEOK, Inc. (NYSE:OKE), compared with 30 in the previous quarter. These stakes are worth $225 million collectively.