5 Dividend Stock Picks of Billionaire Mario Gabelli

In this article, we will discuss the 5 dividend stocks picks of billionaire Mario Gabelli. If you want to read our detailed analysis of Gabelli’s history, investment philosophy, and hedge fund performance, go directly to the 10 Dividend Stock Picks of Billionaire Mario Gabelli.

5. Enbridge Inc. (NYSE:ENB)

Number of Hedge Fund Holders: 24
Dividend Yield: 6.82%

Enbridge Inc. (NYSE:ENB) is a provider of energy infrastructure. Liquid Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services are the company’s five segments. On December 7, Enbridge Inc. (NYSE:ENB) declared a quarterly dividend of CAD 0.860 per share, up 3% from the previous payout of CAD 0.835.

In November, RBC Capital analyst Robert Kwan raised his price target on Enbridge Inc. (NYSE:ENB) to C$61 from C$57 and kept an “Outperform” rating on the shares. GAMCO Investors holds 23,506 shares in Enbridge Inc. (NYSE:ENB) worth over $936,000.

According to our data, 24 hedge funds out of 867 held stakes in Enbridge Inc. (NYSE:ENB) in the third quarter, worth about $211.48 million. The number of hedge funds holding stakes in the company in the second quarter was 19, worth $166.07 million.

ClearBridge Investments, in its first-quarter 2021 investor letter mentioned Enbridge Inc. (NYSE:ENB) . 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.”