5 High Dividend S&P 500 Stocks

1. ONEOK, Inc. (NYSE:OKE)

Number of Hedge Fund Holders: 25

Dividend Yield as of April 26: 5.66%

ONEOK, Inc. (NYSE:OKE) is an Oklahoma-based company that specializes in the storage and transportation of natural gas. The company operates via Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments. ONEOK, Inc. (NYSE:OKE) delivers a dividend yield of 5.66% as of April 26. 

ONEOK, Inc. (NYSE:OKE) on April 21 declared a $0.935 per share quarterly dividend, in line with previous. The dividend is payable on May 16, to shareholders of the company on May 2. After a solid 18-year history of dividend increases, the company paid the same dividend in 2021 did not increase from the prior year. However, ONEOK, Inc. (NYSE:OKE) has not slashed dividends for the last 25 years. 

On March 3, ​​Truist analyst Tristan Richardson maintained a Buy recommendation on ONEOK, Inc. (NYSE:OKE) and raised the firm’s price target on the shares to $78 from $72. The analyst stated that ONEOK, Inc. (NYSE:OKE) shares should continue to find positive support as the Bakken leverage in the present environment offers greater earnings growth potential compared to broader midstream, with activity likely to be accelerated.

According to Insider Monkey’s Q4 database, 25 hedge funds were long ONEOK, Inc. (NYSE:OKE), up from 18 funds in the prior quarter. The total stakes owned in the fourth quarter of 2021 amounted to $94.5 million. Phill Gross and Robert Atchinson’s Adage Capital Management is the largest shareholder of the company, with 475,200 shares worth roughly $28 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.”

You can also take a look at 10 Undervalued Dividend Kings To Buy In 2022 and 10 Dividend Stocks With Over 5% Yield. 

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