Investors are always looking for a deal, but it’s getting harder to find. There’s an oil and gas rebound, the pandemic is coming to a close, and economies around the world continue to reopen. The TSX continues to trade at all-time highs, up 250 points in the last month alone. But there are still Canadian stocks to buy now for a steal for Motley Fool investors. Today, I’ll go over three solid options to consider.
As I mentioned, there’s been an oil and gas rebound with the end of the pandemic coming closer and closer. This has also led to an increase in demand for pipeline companies. These companies will continue to see demand rise, but even if they don’t, Pembina Pipeline (TSX:PPL)(NYSE:PBA) and others are great options to consider among Canadian stocks to buy now.
Why? Pembina is supported by long-term contracts that will see cash flowing in for decades to come. But beyond that, the company has a few things on the go. There are the billions in growth projects coming online in the next years. On top of that, the company announced “growing momentum” from a series of partnerships.
Pembina recently announced it would seek approval for the strategic combination of both Pembina and Inter Pipeline. This merger would create one of the largest and best-positioned energy infrastructures in Canada. On top of that, it’s partnered with TC Energy to create a carbon transportation system to support a lower-carbon economy.
Shares of the company are up 26% in the last year, yet the company still has a forward price-to-earnings ratio of 17.6 — an incredibly cheap rate. So, you can lock in this share price with a dividend yield of 6.36% to boot!
WELL health stock
Another top Canadian stock to buy now is in the healthcare sector. Motley Fool investors should look to emerging businesses such as telehealth first and foremost. The world changed in the pandemic, and it’s highly unlikely we’ll go back to more in-person visits. That’s mainly because telehealth provides a safer, cheaper option for a diverse range of healthcare industries. Whether you’re in downtown Toronto or rural Alberta, you can have far more access to healthcare than ever before.
At the top of the heap of new telehealth companies has to be WELL Health Technologies (TSX:WELL). This company has been acquiring business after business in the telehealth sector. In fact, it’s now the largest outpatient clinic in all of Canada. WELL Health stock also made a massive purchase in the United States, turning into a global operation for Motley Fool investors to consider.
WELL Health stock has seen shares rise by a whopping 203% in the last year, as of writing. The $1.72 billion company reported record-setting revenue during its latest earnings report, and that’s not even including latest acquisitions. WELL Health stock continues to trade near all-time highs, but still a steal among Canadian stocks to buy now with analysts expecting a potential upside of 53% in the next year.
Telehealth isn’t the only place in the healthcare industry to look for deals. There are some of the best Canadian stocks to buy now in pharmaceuticals. There was a huge backlog of demand for these products due to COVID-19. Earnings dropped across the board, and Aurinia Pharmaceuticals (TSX:AUP)(NASDAQ:AUPH) was no exception. But that’s left a steal for today’s investor.
Motley Fool investors should check out this stock, as it recently got FDA approval for its Lupkynsis product. This product is the first FDA-approved oral treatment for active lupus nephritis. As work continues to accelerate, management believes there will be an intense increase in revenue from the rollout.
In fact, the 12-month average target by analysts is at about $37 as of writing. That’s more than double today’s share price. So, this is definitely one of the top Canadian stocks to buy now before it moves much further.
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 Amy Legate-Wolfe owns shares of PEMBINA PIPELINE CORPORATION and WELL Health Technologies Corp. The Motley Fool recommends PEMBINA PIPELINE CORPORATION.