Top 5 High Dividend Stocks To Buy According To Hedge Funds

In this article, we will be taking a look at the top 5 high dividend stocks to buy according to hedge funds. If you want to see our detailed analysis of dividend investing, you can go directly to the Top 12 High Dividend Stocks To Buy According To Hedge Funds.

5. Enbridge Inc. (NYSE:ENB)

Number of Hedge Fund Holders: 19
Dividend Yield as of October 13: 6.29%

Enbridge Inc. (NYSE: ENB) is a multinational natural gas distribution company that operates through its Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services segments. Ranked fifth on our list of the top 12 high dividend stocks to buy according to hedge funds, Enbridge Inc. (NYSE:ENB) has a market capitalization of $106.09 billion.

On September 13, Goldman Sachs analyst Michael Lapides raised his price target on Enbridge Inc. (NYSE:ENB) to $34.56 from $32.95 and kept a Neutral rating on the shares of the company.

In the second quarter of 2021, Enbridge Inc. (NYSE: ENB) had an EPS of $0.54, beating estimates by $0.08. The company’s revenue was $8.77 billion, up 47.12% on a year-over-year basis, beating consensus estimates by $1.61 billion.

Of the 873 elite funds tracked by Insider Monkey, 19 were long in Enbridge Inc. (NYSE:ENB) at the end of June, compared to 22 in the first quarter of 2021. Joseph Sirdevan of Galibier Capital Management is the leading stakeholder of the company.

ClearBridge Investments, an investment management firm, mentioned Enbridge Inc. (NYSE: ENB) in its first-quarter 2021 investor letter. Here’s what they said:

“Enbridge owns and operates one of the largest oil and gas pipeline networks in North America. The company also owns regulated gas distribution utilities in Ontario, Canada. The first quarter saw the market giving the energy sector credit for its leverage to the eventual economic recovery as COVID-19 vaccines get rolled out through 2021.”