In this article, we take a look at the 5 best high dividend stocks to buy now. If you want to read our detailed analysis of these stocks, go directly to 10 Best High Dividend Stocks to Buy Now.
5. ONEOK, Inc. (NYSE:OKE)
Dividend yield as of March 2: 5.86%
Number of Hedge Fund Holders: 25
ONEOK, Inc. (NYSE:OKE) is one of the high-yielding dividend stocks in the midstream industry being watched by income investors because it has increased dividends consistently for the past 19 years and has an 8.74% five-year dividend growth rate.
The Oklahoma-based NGL processor reported its full-year 2021 earnings on February 28. Net income came in at $1.5 billion. In addition, ONEOK, Inc. (NYSE:OKE) ended the year with a total debt reduction of more than $600 million. As of the end of February, shares of ONEOK, Inc. (NYSE:OKE) jumped 41% in the previous year.
25 elite funds held stakes in ONEOK, Inc. (NYSE:OKE) at the end of the fourth quarter of 2021, up from 18 the previous quarter. Adage Capital Management, led by Phill Gross and Robert Atchinson, owns the most shares in ONEOK, Inc. (NYSE:OKE), with a total holding of $27.9 million.
Miller Howard Investments, in its Q3 2021 investor letter, mentioned ONEOK, Inc. (NYSE:OKE) and discussed its stance on the firm. Here is what the fund said:
” In late August, we increased the portfolio’s cyclical exposure by trimming utilities after a period of relative outperformance and reallocating the capital to midstream energy, which had pulled back over the summer. We added ONEOK Inc. (OKE) with the expectation that it will benefit from increasing natural gas and natural gas liquids (NGL) recovery in the Bakken region.”