5 Safe Dividend Stocks for 2022

2. Enbridge Inc. (NYSE:ENB)

Number of Hedge Fund Holders: 24

Dividend Yield: 6.93% (as of January 4)

No. of Years of Consecutive Dividend Increase: 8

Enbridge Inc. (NYSE:ENB) is an energy infrastructure company based in Canada, operating through its segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services.  The company declared a quarterly dividend of CAD 0.860 per share, which is a 3% increase from prior dividend of CAD 0.835. Yield stands at an impressive 6.93%, which appears sustainable given the company’s incredibly stable cash flows and significant growth potential in the renewables segment.

Investors are loading up on Enbridge Inc. (NYSE:ENB), which is the largest midstream company in North America. 24 hedge funds held Enbridge Inc. (NYSE:ENB) stock in their portfolios at the end of the third quarter, up from 19 in the preceding quarter.

For the third quarter, Enbridge Inc. (NYSE:ENB) reported an EPS of $0.47, beating estimates by $0.02. Revenue figure of $9.21 billion was above expectations by $1.47 billion.

On November 8, RBC Capital analyst Robert Kwan kept an ‘Outperform’ rating on Enbridge Inc. (NYSE:ENB) stock, raising the price target to C$61 from C$57