In this article, we will be taking a look at 5 Canadian dividend stocks to buy. To read our detailed analysis of dividend investing, you can go directly to see the 10 Canadian Dividend Stocks to Buy.
5. Suncor Energy Inc. (NYSE:SU)
Number of Hedge Fund Holders: 32
Dividend Yield: 4.6%
Number of Years of Dividend Increases: 1
Suncor Energy Inc. (NYSE:SU), an integrated energy company, works to develop petroleum resource basins in Canada’s Athabasca oil sands. It also acquires and develops crude oil to transport and market in Canada and internationally.
An Outperform rating was kept on Suncor Energy Inc. (NYSE:SU) shares this November by analyst Jason Bouvier from Scotiabank.
Suncor Energy Inc. (NYSE:SU) was among the more popular Canadian dividend stocks that elite hedge funds were piling into in the third quarter, with 32 hedge funds holding stakes in the company worth $1.1 billion.
4. TC Energy Corporation (NYSE:TRP)
Number of Hedge Fund Holders: 15
Dividend Yield: 5.46%
Number of Years of Dividend Increases: 3
TC Energy Corporation (NYSE:TRP) is another energy company on our list, based in Canada and working on energy infrastructure in North America. It builds and operates a 93,400 km network of natural gas pipelines and is trying to become a steady choice for dividend investors, having consistently raised its yield for three year.
Analyst Linda Ezergailis from TD Securities offered investors more incentive to invest in TC Energy Corporation (NYSE:TRP) this November, by reiterating a Buy rating on the stock.
3. Pembina Pipeline Corp (NYSE:PBA)
Number of Hedge Fund Holders: 8
Dividend Yield: 6.2%
Number of Years of Dividend Increases: 6
Pembina Pipeline Corp (NYSE:PBA), an oil and gas storage and transportation company, is among investor favorites for Canadian dividend stocks to buy, with a yield of over 6%. The company operates conventional, oil sands, and heavy oil and transmission assets and has a transportation capacity of 3.2 millions of barrels of oil.
This December, TD Securities analyst Linda Ezergailis also reiterated a Buy rating on Pembina Pipeline Corp (NYSE:PBA) shares.
2. Keyera Corp. (TSE:KEY)
Number of Hedge Fund Holders: N/A
Dividend Yield: 6.7%
Number of Years of Dividend Increases: 6
Keyera Corp. (TSE:KEY), another oil and gas storage and transportation company, operates through its Gathering and Procession, Liquids Infrastructure, and Marketing segments. The company is a notable stock pick for those seeking Canadian dividend stocks to buy. It operates raw gas gathering pipelines and processing plants and also provides condensate handling services.
Wells Fargo’s Praneeth Satish holds an Equal Weight rating on Keyera Corp. (TSE:KEY) shares as of this December.
1. Enbridge Inc (NYSE:ENB)
Number of Hedge Fund Holders: 24
Dividend Yield: 6.5%
Number of Years of Dividend Increases: 8
Enbridge Inc (NYSE:ENB) is yet another energy infrastructure company among the most popular Canadian dividend stocks to buy. It operates pipelines and related terminals to transport crude oil and other liquid hydrocarbons primarily in the US and Canada.
An Outperform rating was placed by Robert Kwan at RBC Capital, on shares of Enbridge Inc (NYSE:ENB) just this November.
ClearBridge Investments, an investment management firm, mentioned Enbridge Inc (NYSE:ENB) in its second-quarter 2021 investor letter. Here’s what they said:
“On a regional basis, the U.S. and Canada was the top contributor to quarterly performance, of which Canadian energy infrastructure company Enbridge was one of the lead performers. 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. Enbridge’s Line 3 Replacement Project received a favorable court ruling regarding the adequacy of its Environmental Impact Statement. This significantly lowers the execution risk for the project and enables the company to place the project into service later in the year.”
You can also take a look at the Top 10 Stocks To Buy Now and Bill Gates’ Stock Portfolio: Top 15 Picks.
