Many new investors and traders try to time the market or chase quick gains, but seasoned Foolish Investors who focus on building serious wealth inside a Tax-Free Savings Account (TFSA) prefer to follow a different approach. They focus on consistency, strong businesses, and long-term compounding rather than short-term market noise. Over time, that discipline can make a meaningful difference.
Two Canadian stocks that reflect this mindset are Keyera (TSX: KEY) and Northland Power (TSX: NPI). Both companies offer a great mix of stable income and strong long-term upside potential, which is exactly what TFSA-focused investors often look for. Let me explain why.
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Keyera stock
The first stock, Keyera, operates an integrated energy infrastructure business with operations spanning natural gas gathering and processing, natural gas liquids (NGLs), transportation, storage, and marketing. This diversified setup helps create stable and predictable cash flows.
After climbing nearly 15% in the last year, KEY stock currently trades at $53.4 per share with a market cap of $14.9 billion. Besides steady performance, it also offers a quarterly dividend with an annualized yield of 4.1% for reliable income.
In the fourth quarter of 2025, Keyera reported adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of $301 million. Excluding acquisition-related costs, this figure would have been $313 million, in line with the prior year. During the quarter, its distributable cash flow rose to $206 million, compared to $168 million a year earlier.
Operationally, the company continues to deliver strong results as its gathering and processing segment generated a record annual realized margin of $439 million in 2025, while its liquids infrastructure segment posted a record $593 million, supported by higher volumes.
To accelerate this growth further, Keyera is advancing several growth projects, including the KFS Frac II Debottleneck, KFS Frac III Expansion, and KAPS Zone 4. It is also moving forward with the Plains acquisition, which is expected to expand its asset base and improve utilization.
Northland Power stock
Northland Power is a global power producer with a focus on renewable energy, including offshore and onshore wind, solar, and energy storage. Its diversified asset base positions it well to benefit from the global shift toward cleaner energy. NPI stock trades at $24 per share with a market cap of $6.3 billion, following a 22% surge in the last year. It offers a monthly dividend with a yield of 3%.
In 2025, Northland posted adjusted EBITDA of $1.3 billion, in line with expectations, while its free cash flow reached $1.46 per share. In the fourth quarter alone, the company’s revenue rose to $723 million from $572 million a year earlier, and net profit increased to $290 million.
The company’s current growth strategy is focused on expanding its capacity as it aims to double its gross operating capacity to 7 gigawatts by 2030. Its major projects include the 1.1 gigawatt (GW) Baltic Power project and the 1 GW Hai Long project, along with battery storage developments in Poland. It has also secured long-term contracts, including a power purchase agreement for part of its Nordsee One output, which supports stable future cash flows.
