5 Best Dividend Champions to Buy for 2022

1. Enbridge Inc. (NYSE:ENB)

Dividend Yield as of January 20: 6.52%

Number of Years of Dividend Increases: 27

Number of Hedge Fund Holders: 24

Enbridge Inc. (NYSE:ENB) is an energy infrastructure company that operates through five segments, including liquids pipelines, gas transmission and midstream, gas distribution and storage, renewable power generation, and energy services. Enbridge Inc. (NYSE:ENB) is one of the most notable dividend champions to buy for 2022. 

Enbridge Inc. (NYSE:ENB) declared on December 7 a C$0.860 per share quarterly dividend, which is a 3% increase from the prior dividend of C$0.835. The dividend is payable on March 1, to shareholders of record on February 15. Enbridge Inc. (NYSE:ENB)’s rich dividend history suggests 27 consecutive years of dividend increases. 

On January 11, CIBC analyst Robert Catellier raised the price target on Enbridge Inc. (NYSE:ENB) to C$57 from C$55 and kept an Outperform rating on the shares.

Enbridge Inc. (NYSE:ENB) announced on December 31 that it plans to purchase approximately 31 million common shares worth C$1.5 billion. Enbridge Inc. (NYSE:ENB) will purchase the shares over the course of one year through the New York Stock Exchange, Toronto Stock Exchange, and other exchanges on January 5. 

A total of 24 hedge funds were bullish on Enbridge Inc. (NYSE:ENB) in the third quarter of 2021, up from 19 funds in the preceding quarter. Galibier Capital Management is one of the leading Enbridge Inc. (NYSE:ENB) shareholders, with 785,587 shares worth $31.2 million. 

Here is what ClearBridge Investments Dividend Strategy has to say about Enbridge Inc. (NYSE:ENB) in its Q3 2021 investor letter:

“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.”

You can also take a look at 10 High Yield Monthly Dividend Stocks and 10 Best Dividend Aristocrats to Buy for 2022. 

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