5 Best Undervalued Dividend Stocks to Buy Now

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1. Enbridge Inc. (NYSE: ENB)

Number of Hedge Fund Holders: 19
Dividend Yield: 7.02%

Enbridge Inc. (NYSE: ENB), an energy infrastructure company, is next and last on our list of the best undervalued dividend stocks to buy now. The company operates through its Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services segments. It ranks 1st on our list.

As of this August, BMO Capital’s Ben Pham raised his price target on shares of Enbridge Inc. (NYSE: ENB) to $43.15. The analyst also reiterated an Outperform rating on the shares.

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% year over year and beating estimates by $1.61 billion. Enbridge Inc. (NYSE: ENB) has gained 6.23% in the past 6 months and 18.36% year to date.

By the end of the second quarter of 2021, 19 hedge funds out of the 873 tracked by Insider Monkey held stakes in Enbridge Inc. (NYSE: ENB) worth roughly $166 million. This is compared to 22 hedge funds in the previous quarter with a total stake value of approximately $144 million.

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.”

You can also take a look at 10 Best Undervalued Stocks to Buy Now According to Reddit and 10 Best Undervalued Dividend Stocks to Buy Now.

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