The Canadian market has been riding a strong bull run for over four months now. The S&P/TSX Composite Index is up more than 10% since the beginning of 2021. Don’t let that fool you into thinking there aren’t any bargains to be had, though.
The TSX has plenty of top companies trading at affordable prices today. With just $100, you can choose from a list of market-leading companies to invest in.
Don’t believe me? Here are four top Canadian stocks that are all trading below $100 right now.
There are more reasons than one to have Telus (TSX:T)(NYSE:TU) high up on your watch list today. The telecommunications industry is a trustworthy one, so it’s a stock you can count on regardless of the economy’s condition.
In the past, a trade-off for Telus’s dependability has been its lack of delivering consistent market-beating returns. I believe we may see that change over the next decade, though, as the roll-out of 5G technology really gets underway.
And even if the stock does continue to trail the market, shareholders can’t complain about the stock’s 4.5% dividend yield.
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Sun Life Financial
Insurance isn’t the most exciting industry, but that’s not what you’re going for if Sun Life is on your radar. The stock will keep your portfolio afloat during inevitable market declines, as both consumers and businesses will likely continue to depend on insurance policies for many more years.
And just like Telus, Sun Life owns a top dividend yield. The stock’s annual dividend of $2.20 per share earns investors a 3.3% yield at today’s stock price.
Brookfield Renewable Partners
Now that we have the dependable stocks out of the way, it’s time to add some growth to this basket of four companies.
Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP) is a market-leading company in the fast-growing renewable energy sector. Shares of the $13 billion company are up a market-crushing 135% over the past five years. That’s not even including the green energy stock’s impressive 3% dividend yield, either.
If you’re looking for exposure to the sector, you can’t go wrong with Brookfield Renewable Partners. The company is a market leader in the space with operations across the globe generating a wide range of renewable energy options for its customers.
Now’s the time to be loading up on renewable energy stocks. While the market has been soaring, green energy stocks have been going through a selloff in recent months.
Shares of Brookfield Renewable Partners are now trading at an opportunistic 20% discount.
Last on my list of top sub-$100 stocks is the most expensive of the four — not from a share price perspective, but from valuation.
Docebo (TSX:DCBO)(NASDAQ:DCBO) stock is trading at a frothy price-to-sales ratio of 30 today. Not many TSX stocks are trading in that range, but that’s the price you need to pay to own a top growth stock today.
Docebo only joined the TSX in October of 2019, but shares are already up more than 350%.
Demand for the tech company’s cloud-based virtual training platforms has soared during the pandemic, as remote work became the norm for many workers. So, it shouldn’t come as a surprise to see the stock selloff by about 20% in recent months, as the country is getting ready to reopen. But if you’re bullish on the rise of remote work in the coming years, this is one growth stock that’s worth paying a premium for.
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Nicholas Dobroruka owns shares of Brookfield Renewable Partners. The Motley Fool owns shares of and recommends Docebo Inc. The Motley Fool recommends TELUS CORPORATION.