5 Best Canadian Dividend Stocks For Income Investors

4. Enbridge Inc. (NYSE:ENB)

Number of Hedge Fund Holders: 21 

A multinational energy company, Enbridge Inc. (NYSE:ENB) is next on our list of the best dividend Canadian stocks. In April, Morgan Stanley maintained an Equal Weight rating on the stock with a C$63 price target. The firm has a positive outlook on the sector for 2023.

Enbridge Inc. (NYSE:ENB) has been growing its dividends consistently for the past 28 years and also has a 67-year run of paying regular dividends to shareholders. The company offers a quarterly dividend of C$0.8875 per share for a dividend yield of 6.53%, as of May 7.

As of December 2022, 21 hedge funds tracked by Insider Monkey owned stakes in Enbridge Inc. (NYSE:ENB), with a collective value of over $2.6 billion.

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