2 Top Canadian Blue-Chip Stocks to Buy Now

These Canadian blue-chip stocks generate steady capital gains over time, add resilience to your portfolio, and return cash.

Key Points
  • Canadian blue-chip stocks offer resilience through stable earnings and strong balance sheets.
  • Loblaw has delivered market-beating returns driven by value-focused retailing and a defensive business model.
  • TC Energy provides dependable income and stability through regulated and long-term contracted assets.

Canadian blue-chip stocks are a must-have for building a resilient, diversified investment portfolio. These are large-cap Canadian companies with established businesses and the ability to generate consistent earnings, even through changing economic conditions and strong balance sheets. Thanks to their solid fundamentals, these Canadian stocks generate steady capital gains over time, add resilience to your portfolio, and return cash to their shareholders through dividends and share repurchases.

With this backdrop, here are two top Canadian blue-chip stocks to buy now.

money goes up and down in balance

Source: Getty Images

Canadian blue-chip stock #1: Loblaw

Loblaw (TSX: L) is a high-quality blue-chip stock to buy now. Despite operating in a traditionally defensive sector, Canada’s largest food and pharmacy retailer has delivered market-beating performance. The stock is up more than 38% over the past year. Further, it has grown at a compound annual growth rate (CAGR) of 33.2%, generating overall capital gains of 319%.

Loblaw’s market-beating returns are driven by its steady, strong same-store sales growth, resilient earnings, and reliable cash flow generation.

A key catalyst for Loblaw has been its focus on value-oriented retailing. As consumers remain cost conscious, the company continues to expand its hard discount banner network, positioning itself to capture greater wallet share from budget-focused shoppers. At the same time, Loblaw’s broader product assortment and expanding private-label portfolio are increasing store traffic while helping protect margins, even in a competitive pricing environment.

Its personalized loyalty program is designed to deepen customer engagement and encourage repeat visits, while multiple fulfillment options, including in-store shopping, curbside pickup, and home delivery, enhance convenience and strengthen customer retention. Alongside these initiatives, Loblaw is investing in new store openings and modernizing its supply chain with advanced automation, which should lower costs and improve operational efficiency over time.

Overall, Loblaw’s defensive business model, focus on value, and ongoing investments in technology and logistics position it well to continue outperforming the broader market and delivering attractive returns.

Canadian blue-chip stock #2: TC Energy

TC Energy (TSX: TRP) is another compelling blue-chip stock to add to your portfolio. The energy infrastructure company generates roughly 97% of its earnings from regulated assets or long-term, take-or-pay contracts. This operating structure significantly reduces exposure to volatility associated with commodity prices and provides dependable cash flow, even during periods of turbulence in energy markets.

Its extensive pipeline network connects low-cost natural gas supply with key demand markets. These assets play a critical role in North American energy infrastructure, supporting reliable energy delivery while enabling higher utilization of their systems.

TC Energy has diversified its revenue sources through investments in nuclear, wind, and solar power, positioning it well to capitalize on the transition to cleaner, lower-emission energy sources.

Its strong cash flows have enabled TC Energy to raise its dividend for two and a half decades. Looking ahead, the company’s outlook remains constructive. With plans to invest between $6 billion and $7 billion in secure, long-duration projects through 2026, TC Energy is steadily expanding its future earnings base.

As energy demand continues to increase and the need for reliable, lower-emission infrastructure grows, TC Energy appears well-positioned to benefit. These investments are expected to support ongoing dividend growth of 3% to 5% annually, making the stock an attractive option for long-term investors seeking income, stability, and modest growth.

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

More on Investing

Happy golf player walks the course
Dividend Stocks

2 TSX Dividend Stocks to Consider Now for Steady Passive Income

With established business models, reliable cash flows, a strong dividend track record, and clear growth prospects, these two stocks stand…

Read more »

trading chart of brent crude oil prices
Energy Stocks

Suncor Stock: The Dividend Test I’d Use When Oil Prices Swing

Suncor’s dividend increase needs to be assessed beside cash after investment and a weaker-oil stress test.

Read more »

people ride a downhill dip on a roller coaster
Dividend Stocks

Why I’m Holding This Dividend Stock Through Market Volatility

Worried about another market decline? Buy Fortis stock for a stable income stream and steady returns over the coming years.

Read more »

A worker gives a business presentation.
Dividend Stocks

Worried About the Economy? Waiting to Invest Could Actually Cost You More

Investing in Canada’s top dividend-paying stocks can calm investors’ fear of economic uncertainty.

Read more »

stocks climbing green bull market
Investing

The Top Stocks I’d Buy and Hold in 2027

Enbridge (TSX:ENB) and another top-notch stock worth loading up on for the new year and beyond.

Read more »

man shops in a drugstore
Dividend Stocks

TFSA vs. RRSP: Where I’d Put the Next $500 for Retirement

The next $500 can work harder when the account fits your tax situation, with Metro offering a fresh retirement-stock example.

Read more »

golden sunset in crude oil refinery with pipeline system
Energy Stocks

Buy 1,225 Shares of This Top Dividend Stock for $300/Month in Passive Income

This Canadian dividend stock’s attractive yield and strong growth outlook make it worth considering for investors aiming to generate $300…

Read more »

A train passes Morant's curve in Banff National Park in the Canadian Rockies.
Dividend Stocks

2 Dividend Stocks I’d Happily Buy and Hold for Life

CN Rail (TSX:CNR) and another name that could be worth holding onto for decades or perhaps for a lifetime.

Read more »