5 Best Dividend Stocks For Inflation

4. Enbridge Inc. (NYSE:ENB)

Number Of Hedge Fund Holders: 24

Dividend Yield as of June 24: 6.44%

Enbridge Inc. (NYSE:ENB) is a multinational pipeline company headquartered in Calgary, Alberta, Canada. The company invests in natural gas pipelines and gathering and processing facilities in the US and Canada, alongside providing services related to energy infrastructure.

Another dividend aristocrat on our list, the energy company has successfully raised its dividend yield for the past 27 years. Currently, the company offers a quarterly payout of C$0.86, with a yield of 6.44%, as of June 24. Earlier this May, RBC Capital analyst Robert Kwan raised his price target on Enbridge Inc. (NYSE:ENB) to C$65 from C$60 and kept an Outperform rating on the shares of the company.

For the fiscal first quarter of 2022, Enbridge Inc. (NYSE:ENB) recorded earnings per share of $0.6, beating the previous quarter’s EPS of $0.5. The company’s revenue was $11.7 billion, also surpassing the previous quarter’s revenue of $9.8 billion.

Out of 912 hedge funds, 24 hedge funds were long Enbridge Inc. (NYSE:ENB) in the first quarter of 2022, with a total stake value of $2.4 billion. In comparison, 21 hedge funds held stakes in the stock in the previous quarter, with a total stake value of $550 million.