3 No-Brainer Blue-Chip Stocks to Buy With $2,000 Right Now

Are you looking for stocks that won’t keep you up at night? These are the top three to consider.

| More on:
dividends grow over time

Source: Getty Images

Even in an uncertain market, some Canadian stocks continue to prove their strength and staying power. Blue-chip stocks with solid earnings, growing dividends, and dependable business models are often the first to bounce back when investors get nervous. So, if you’re looking to invest $2,000 right now, three of the smartest places to park your cash could be in banking, software, and energy. Let’s break down why these three Canadian stocks are still no-brainers, even after a bumpy year.

Scotiabank

Bank of Nova Scotia (TSX:BNS) might not have thrilled investors lately, but its 5.6% dividend yield is nothing to scoff at. The bank’s earnings came in a bit soft in the second quarter, with adjusted net income falling to $2.07 billion and adjusted diluted earnings per share (EPS) landing at $1.52, down from $1.58 the year before.

Canadian banking earnings dropped significantly due to higher provisions for credit losses and a lower margin, but international banking showed strength with earnings up 7%. Meanwhile, Global Wealth Management and Global Banking and Markets also delivered solid year-over-year gains.

With a common equity tier-one capital ratio of 13.2% and a recent dividend hike to $1.10 per quarter, the Canadian stock remains committed to rewarding shareholders. It’s not a growth rocket, but it’s hard to argue with its long-term value, especially when it trades at just over 10 times forward earnings.

Constellation Software

If you want exposure to high-margin growth without leaving Canada, Constellation Software (TSX:CSU) has been the go-to for years. While the second quarter saw a sharp drop in net income, falling 68% to $56 million or $2.66 per share, that’s not the whole story.

Revenue surged 15% to $2.84 billion, and cash flow from operations shot up 63% to $433 million. The Canadian stock continues to deploy capital efficiently, closing $469 million worth of acquisitions last quarter alone. Its free cash flow available to shareholders climbed 20% year over year, and the Canadian stock remains one of the most disciplined acquirers in the tech sector.

Yes, it trades at a steep multiple with a forward price-to-earnings (P/E) ratio of about 35, but investors aren’t paying for where it is. They’re paying for where it’s headed. With a razor-sharp focus on recurring revenue and operational efficiency, CSU keeps growing even when the broader tech sector is on shaky ground. And with a dividend yield that’s tiny but steadily rising, long-term holders are being rewarded in more ways than one.

Canadian Natural Resources

Finally, there’s Canadian Natural Resources (TSX:CNQ). Shares are down around 15% over the past year. Yet the underlying business looks stronger than ever. Adjusted net earnings for the second quarter came in at $1.5 billion, while adjusted funds flow hit $3.3 billion.

Production averaged 1.42 million barrels of oil equivalent (boe) per day. Plus, the Canadian stock benefits from acquisitions that are already showing lower costs and strong returns. It also just closed a $750 million acquisition in the Montney region. This adds 32,000 barrels of production per day. That move wasn’t even in the original 2025 budget.

In short, the Canadian stock is outperforming its own targets. With a dividend yield of 5.7% and a West Texas Intermediate (WTI) breakeven in the low to mid-US$40s, this is a Canadian stock that can thrive even if oil prices slide. Management returned $1.6 billion to shareholders last quarter alone. This is what disciplined capital allocation looks like. That makes it hard not to get excited about what CNQ can do in the second half of the year.

Bottom line

Putting $2,000 to work in these three Canadian stocks gives you a combination of dependable income, software growth, and energy upside. The market may continue to be unpredictable, but these Canadian stocks deliver results. Whether you’re looking for strong cash flow, defensive dividends, or a long runway of growth, there’s a case to be made for all three right now. With rates still high and economic uncertainty looming, investors are hunting for safety with upside, and this trio might just be the sweet spot.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Bank Of Nova Scotia, Canadian Natural Resources, and Constellation Software. The Motley Fool has a disclosure policy.

More on Dividend Stocks

Investor reading the newspaper
Dividend Stocks

In a Hot Market, the Undervalued Canadian Stocks to Buy Now

In a hot market, investors can still selectively invest in undervalued stocks to better protect their capital and growth their…

Read more »

Person holds banknotes of Canadian dollars
Dividend Stocks

My 3 Favourite Stocks for Monthly Passive Income

Backed by healthy cash flows, compelling yields, and solid growth prospects, these three monthly paying dividend stocks are well-positioned to…

Read more »

coins jump into piggy bank
Dividend Stocks

Here’s the Average Canadian TFSA at Age 50

Canadians should aim to maximize their TFSA contributions every year and selectively invest in assets that have long-term growth potential.

Read more »

how to save money
Dividend Stocks

Here’s Where I’m Investing My Next $2,500 on the TSX

A $2,500 investment in a dividend knight and safe-haven stock can create a balanced foundation to counter market headwinds in…

Read more »

Partially complete jigsaw puzzle with scattered missing pieces
Dividend Stocks

This 6.1% Yield Is One I’m Comfortable Holding for the Long Term

After a year of dividend cuts, Enbridge stock's 6.1% yield stands out, backed by a $35 billion backlog and 31…

Read more »

Pile of Canadian dollar bills in various denominations
Dividend Stocks

1 Magnificent Canadian Dividend Stock Down 59% to Buy for Decades

A battered dividend stock can be worth a second look when the core business is still essential and the dividend…

Read more »

stocks climbing green bull market
Dividend Stocks

Why I’m Letting This Unstoppable Stock Ride for Decades

Brookfield (TSX:BN) is a stock worth owning for decades.

Read more »

Piggy bank on a flying rocket
Stocks for Beginners

Where to Invest Your $7,000 TFSA Contribution for Long-Term Gains

Looking for where to allocate your TFSA contribution? Here are two options to direct that $7,000 where it will give…

Read more »