This Article Was First Published on The Motley Fool The Motley Fool recommends CDN NATURAL RES and Enbridge. The post 2 Oil Stocks With Top-Notch Dividends appeared first on The Motley Fool Canada.įool contributor Adam Othman has no position in any of the stocks mentioned. If you have some cash that you want to put to work to create a passive-income stream, you could consider adding Enbridge stock and CNQ stock to your investment portfolio. The recent decline in the energy sector has caused share prices to slump and inflated dividend yields. With several consecutive quarters of excellent financial performances by both publicly traded companies, the prospect of investors being rewarded their shareholder dividends remains high. Enbridge stock has increased its shareholder dividends for the last 27 years, and analysts anticipate a 3-5% dividend growth in the next few years.Ĭanadian Natural Resources stock and Enbridge stock are leading entities in their respective segments in the Canadian energy industry. It is also a Canadian Dividend Aristocrat, making it a reliable dividend stock to consider. It is down by 8.46% from its June 7, 2022, levels. It plays a critical role in the region’s economy.Įnbridge stock trades for $54.51 per share at writing, and it boasts a juicy 6.31% dividend yield. Enbridge owns and operates an extensive pipeline network responsible for transporting a significant portion of all the traditional energy products used in the U.S. Canadian Natural Resources stock looks like a good buy for income-seeking investors after its 25.63% decline from its May 2022 levels.Įnbridge (TSX:TSX: ENB)(NYSE:ENB) is a $111.98 billion market capitalization multinational pipeline company headquartered in Calgary. The company continues to reduce its debt and improve its balance sheet. The Canadian Dividend Aristocrat has been increasing its shareholder dividends for the last 22 years, including a 28% dividend hike earlier this year. The company generates stable cash flows due to the high demand for its products.Ĭanadian Natural Resources stock trades for $64.73 per share at writing, and it boasts a juicy 4.63% dividend yield. The company produces 1.6 million barrels of oil equivalent and boasts 11.5 billion boe proven and probable crude oil and natural gas reserves. You could consider adding these stocks to your investment portfolio to lock in high-yielding dividends for your self-directed portfolio.Ĭanadian Natural Resources ( TSX:CNQ)(NYSE:CNQ) is a $76.60 billion market capitalization giant in the Canadian oil and natural gas industry. Today, I will discuss two high-quality oil stocks that pay their shareholder dividends. While the energy sector decline led to a significant pullback for the broader equity markets in Canada, it did create an opportunity for income-seeking investors. Investors began fleeing risk, offloading investments in equity markets for safer asset classes, including energy stocks. Between high costs for everything and a more challenging borrowing environment, fears of a recession permeated markets. Unfortunately, raising the interest rates takes time to have an impact on inflationary conditions. Increasing interest rates is a measure necessary to control inflation levels. Fed brought with it an announcement of a 75-basis-point interest rate hike - the likes of which hasn’t been seen since 1994. Federal Reserve’s monumental interest rate hike. The strength of the energy sector fell victim to the panic created by the U.S. The Canadian energy sector also started experiencing a pullback in recent weeks after keeping the S&P/TSX Composite Index afloat for the better part of a year. Topnotch Resort may also be known as or be related to TN Resort Stowe, LLC, Topnotch Resort, Topnotch Resort & Spa and Topnotch Resort And Spa.© Reuters 2 Oil Stocks With Top-Notch Dividends The data presented on this page does not represent the view of Topnotch Resort and its employees or that of Zippia.

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