5 Best High-Yield Dividend Champions to Buy in August

3. Enbridge Inc. (NYSE:ENB)

Dividend Yield as of August 1: 6.04%

A Canada-based multinational pipeline company, Enbridge Inc. (NYSE:ENB) reported cash provided by operating activities of $2.5 billion in Q2 2022. The company’s distributable cash flow came in at $2.7 billion, up from $2.5 billion during the same period last year.

Enbridge Inc. (NYSE:ENB) has been a strong dividend-payer, offering dividends to shareholders for the past 67 years consecutively. The company also maintains a 27-year track record of consistent dividend growth. It pays a quarterly dividend of C$0.86 per share, with a yield of 6.04%, as of the close of August 1.

In June, National Bank lifted its price target on Enbridge Inc. (NYSE:ENB) to C$60 and kept an Outperform rating on the shares.

Rajiv Jain’s GQG Partners owned stakes worth over $2 billion in Enbridge Inc. (NYSE:ENB), becoming the company’s leading stakeholder in Q1. Overall, 24 hedge funds in Insider Monkey’s database had nearly $2.4 billion worth of investments in the Canada-based company.

ClearBridge Investments mentioned Enbridge Inc. (NYSE:ENB) in its Q3 2021 investor letter. Here is what the firm had to say:

“We are meaningfully overweight energy, particularly within North American energy infrastructure. Enbridge and Williams, our two infrastructure holdings, possess crown jewel infrastructure assets. They each deliver meaningful proportions of the overall energy produced and consumed in North America. Their revenues are backed by long-term contracts with high-quality counterparties and have little direct commodity price exposure. Their growth has been driven by the increasing production of North American energy. The advent of unconventional oil and gas production (oil sand and shale) has made North America a low-cost competitor on a global basis. We expect strong North American production to be an enduring feature of global energy supply for decades to come.”