5 Dividend Stocks That Have Doubled Their Payouts

3. Suncor Energy Inc. (NYSE:SU)

Number of Hedge Fund Holders: 32

Dividend Yield: 5.4%

Suncor Energy Inc. (NYSE:SU) is an integrated energy company focusing on developing petroleum resource basins in Canada’s Athabasca oil sands. It also deals with crude oil in Canada and internationally. The company doubled its dividend this year, using its increased cash flow in 2021 while also cutting $3 billion worth of debt. It is among the best dividend stocks that have doubled their payouts.

Scotiabank’s Jason Bouvier reiterated an Outperform rating on shares of Suncor Energy Inc. (NYSE:SU) this November.

Insider Monkey’s data shows 32 hedge funds long in Suncor Energy Inc. (NYSE:SU) in the third quarter, with stakes worth $1.08 billion. In the second quarter again, 32 hedge funds were long in the stock, with stakes worth $1.1 billion.