5 Best Dividend Stocks to Buy and Hold Now According to Tiger Cub Lee Ainslie

3. Enbridge Inc. (NYSE: ENB)

Ainslie’s Stake Value: $817,000
Percentage of Lee Ainslie’s 13F Portfolio: 0.001%
Dividend Yield: 6.74%
Number of Hedge Fund Holders: 22

Enbridge Inc. (NYSE: ENB) functions as an energy foundation company. It was incorporated in 1949 and is ranked third in the list of 10 best dividend stocks to buy and hold according to Tiger Cub Lee Ainslie. Enbridge currently has $82.65 billion market capitalization and was able to deliver a 27.96% return in the past 12 months.

Enbridge Inc. (NYSE: ENB) stock is a good option for income investors as the firm pays a sizable dividend. On May 5, the company declared a quarterly dividend of $0.68 per share, in line with the previous. On June 7, Enbridge announced that it agreed to sell its 38.9% nonfunctioning minority ownership interest in Noverco Inc. to Trencap L.P. for $1.14 billion in cash.

Lee Ainslie’s Maverick Capital currently holds 22,439 shares of Enbridge that amounts to $817,000. Marshall Wace LLP  is the company’s most significant stakeholder, with 1.27 million shares worth $46.27 million. 

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks, and Enbridge Inc (NYSE: ENB) was one of them. Here is what the fund 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.”