Jim Cramer is Recommending These 2 High-Yield Dividend Stocks

In this article, we will look at 2 high-yielding dividend stocks to buy according to journalist investor Jim Cramer. If you want to explore similar stocks, you can also take a look at Jim Cramer is Recommending These 5 High-Yield Dividend Stocks.

2. ONEOK, Inc. (NYSE:OKE)

Dividend Yield as of September 28: 7.09%

Number of Hedge Fund Holders: 30

ONEOK, Inc. (NYSE:OKE) is an energy company that is involved in the processing, storage, and transportation of natural gas in the United States. The stock is currently trading at bargain levels and is paying a strong dividend. As of September 28, ONEOK, Inc. (NYSE:OKE) has a trailing twelve-month PE ratio of 14.44 and is offering a forward dividend yield of 7.09%, which the company supports with free cash flows of $1.78 billion. ONEOK, Inc. (NYSE:OKE) is among Cramer’s “accidental high-yielders”.

On August 8, ONEOK, Inc. (NYSE:OKE) announced market-beating earnings for the fiscal second quarter of 2022. The company reported earnings per share of $0.92 and beat estimates by $0.04. The company generated a revenue of $6 billion, up 76.95% year over year, and beat expectations by $812.92 million. As of July 20, Barclays analyst Theresa Chen has a $62 price target and an Equal Weight rating on ONEOK, Inc. (NYSE:OKE).

Over the past three months, ONEOK, Inc. (NYSE:OKE) has received 2 Buy ratings and 5 Hold ratings from Wall Street analysts. The stock has a high price target of $74 and a low price target of $62. The stock’s average price target of $68.86 represents a 34.6% upside from current levels.

Insider Monkey found 30 hedge funds long ONEOK, Inc. (NYSE:OKE) at the end of Q2 2022. The total stakes of these hedge funds amounted to $243 million, up from $174.3 million in the previous quarter when 25 hedge funds held stakes in the company. The hedge fund sentiment for the stock is positive. As of June 30, Ken Griffin’s Citadel Investment Group is the top shareholder in ONEOK, Inc. (NYSE:OKE) and has stakes worth $37.85 million in the company.