4 Top Canadian Stocks (Under $100) to Buy Today

With the improving operating environment in the background, I see strong growth in these four under-$100 stocks.

| More on:
Canadian Dollars

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn more

The accelerated pace of vaccine distribution, economic expansion, revival in consumer demand, and an uptick in corporate earnings could continue to push the Canadian stock market higher in 2021 and beyond. With the improving operating environment in the background, here are four under-$100 stocks that are poised to deliver solid total shareholder returns.

Goodfood Market

Investors eyeing high growth could consider Goodfood Market (TSX:FOOD). The stock has corrected by over 37% this year, as the economic reopening slightly slowed its pace of subscriber growth rate. However, I see this correction as a solid opportunity to go long on its stock. Further, I remain upbeat expect it to deliver solid returns in the long run due to the positive secular tailwinds. 

The company continues to perform well, and the increased spending on e-commerce platforms provides a solid foundation for future growth. I believe the increased adoption of its online grocery delivery services and expanded product offerings are likely to boost its order rates, basket size, and active subscriber base. Additionally, its strong delivery network, emphasis on reducing delivery time, and targeted marketing are likely to accelerate its growth and support the uptrend in its stock. 


Scotiabank (TSX:BNS)(NYSE:BNS) stock has witnessed solid buying in one year and is up over 48% on hopes of economic reopening and improvement in demand. I expect the momentum to sustain on the back of its solid financials, improving macroeconomic outlook, and low valuation. 

The improvement in credit demand, expense management, exposure to the high-growth banking markets, higher loans and deposits, and growing non-interest income could accelerate its revenues and earnings growth and drive its dividend. Notably, the Canadian banking giant trades cheaper than peers and increased its dividend by a CAGR of 6% for a decade, making it a top stock for investors seeking value and income. Further, Scotiabank currently yields at 4.5%, which is very safe. 


Enbridge (TSX:ENB)(NYSE:ENB) is a solid reopening play and is likely to gain big from the pickup in the energy demand. Enbridge stock has increased over 25% on a year-to-date basis. I believe the recovery in its mainline throughput, continued momentum in the core business, and favourable industry trends could drive the stock higher.

Enbridge’s diverse revenue streams, contractual framework, rate escalations, and new customer growth indicate that the company is well positioned to deliver robust top- and bottom-line growth. Further, the energy giant’s multi-billion secured capital program suggests that the company could continue to boost its shareholders’ returns through higher dividend payments. Currently, it has a high dividend yield of 6.8%. 

Suncor Energy

Suncor Energy (TSX:SU)(NYSE:SU) stock is set to deliver significant returns in the long run, owing to the sharp recovery in crude oil prices, economic expansion, and lower cost base. Meanwhile, its integrated assets, the expected increase in volumes, expense management, and focus on lowering debt augur well for future growth. 

Furthermore, it is likely to bolster its shareholders’ returns through share repurchases and regular dividend payments. Notably, the Suncor Energy stock has increased by about 45% this year but is still trading cheap compared to its pre-COVID levels, making it an attractive buy for long-term investors. 

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 Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Enbridge. The Motley Fool recommends BANK OF NOVA SCOTIA and Goodfood Market Corp.

More on Energy Stocks

Dollar symbol and Canadian flag on keyboard
Energy Stocks

2 Hot Canadian Energy Stocks to Buy Amid the Ongoing Correction

These two Canadian energy stocks look really attractive to buy amid the ongoing oil and gas sector-wide correction.

Read more »

Growth from coins
Energy Stocks

STEP Energy (TSX:STEP) Just Grew its Free Cash Flow by 3,347%

Canadians who will invest in a small-cap energy stock with outsized gains in 2022 are taking a step in the…

Read more »

TSX Today
Energy Stocks

TSX Today: What to Watch for in Stocks on Wednesday, August 17

Weakening commodity prices point to a lower open for the main TSX benchmark today.

Read more »

Group of industrial workers in a refinery - oil processing equipment and machinery
Energy Stocks

This Canadian Energy King (and its Fast-Growing Dividend) Is Too Cheap to Ignore!

Canadian Natural Resources (TSX:CNQ)(NYSE:CNQ) stock has been rewarding shareholders with huge dividend hikes of late, and they may not slow…

Read more »

Safety helmets and gloves hang from a rack on a mining site.
Energy Stocks

Oil Stocks May Start a 2nd Rally in October

Oil stocks like Cenovus Energy (TSX:CVE)(NYSE:CVE) could rally in the second half of the year.

Read more »

consider the options
Energy Stocks

Where to Invest $1,000 for the Next 5 Years

NPI (TSX:NPI) and these other two strong TSX stocks are perfect for Canadian investors with just $1,000 to invest in…

Read more »

oil and gas pipeline
Energy Stocks

What’s Next for Canadian Natural (TSX:CNQ) Stock After Its Solid Q2 Earnings?

TSX energy stocks will likely keep rewarding shareholders big time,

Read more »

A worker overlooks an oil refinery plant.
Energy Stocks

2 Oil Stocks With Mind-Blowing Gains in 1 Year Could Still Rise

Two oil stocks with mind-blowing returns in one year could climb further if oil demand picks up in winter.

Read more »