Top Canadian Stocks to Buy With $20,000 in 2026

Top Canadian stocks such as Well Health Technologies stock are leading the way in their respective thriving industries.

Karen Thomas, MSc, CFA

Karen is a stock market enthusiast focused on uncovering those stocks that she believes the market has mispriced. She does this through fundamental and quantitative analysis of companies and their industries, as well as a study of future opportunities and trends. She holds a Masters degree in Finance, the CFA designation, and has over 20 years of experience in the investment management industry. Having worked at a major pension fund, as well as two leading mutual fund firms as an analyst and portfolio manager, she has solid investing expertise which she aims to share with her readers.

Published July 9, 3:45 pm EDT

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Key Points

With 2026 marked by booming energy demand, AI growth, and markets at all-time highs, investors should focus on long-term Canadian stocks with solid business models, strong balance sheets, and competitive advantages.
Enbridge is a buy despite trading at all-time highs, offering a 5% yield while benefiting from robust energy demand driven by electrification, data centres, and global LNG exports, with the company serving 75% of North American refineries and expanding access to LNG facilities to support sustained growth.
Well Health Technologies has grown revenue 360% over five years (36% CAGR) while transitioning from losses to $0.50 EPS in 2025, leveraging AI to improve patient outcomes and diagnose over 100 diseases, positioning it as a potential millionaire-maker stock insulated from economic cycles in the essential healthcare sector.

2026 is a year of booming energy demand and the rise of digitization and artificial intelligence – all happening within a stock market that’s trading around all-time highs. Investors trying to navigate all of this can do well by focusing on the long term. Look for top Canadian stocks that are in it for the long haul, with solid business models, balance sheets and competitive advantages.

With this in mind, let’s look into two top Canadian stocks to buy in 2026.

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Enbridge

Enbridge Inc. (TSX:ENB) is one of North America’s leading energy infrastructure companies with a vast network of pipelines, utilities, and renewable energy assets. Today, this top Canadian stock is enjoying a healthy oil and gas environment, with strong demand coming from both domestic and global sources.

While Enbridge stock is trading at all-time highs, this valuation is deserved for many reasons. First, the company is enjoying a robust oil and gas market, with strong demand trends expected to last many years. At home, utilities’ natural gas needs are rapidly rising as the electrification of the energy grid continues. Also, unprecedented energy demand from data centres will provide a significant boost. Furthermore, strong demand is coming from around the globe as countries switch from coal to natural gas. Liquified natural gas exports from Canada and the U.S. are seeing healthy, sustainable demand.

Enbridge is the link between energy producers and their customers. The company serves more than 75% of North American refineries and 20% of all gas consumed. And Enbridge is expanding its access to LNG facilities in preparation for growing and sustained LNG export demand.

For dividend investors, this top Canadian stock is yielding a very attractive 5%. As for valuation, Enbridge’s strong growth outlook, predictable earnings and cash flow profile, and its leading position in North American energy infrastructure make it deserving of premium valuations.

Well Health Technologies

Another top Canadian stock to buy is Well Health Technologies Corp. (TSX:WELL). Well Health Technologies is an up-and-coming omni-channel digital healthcare company.

The company has grown its annual revenue by 360% in the last five years. This equates to a compound annual growth rate of 36%. And the company has gone from net losses to earnings per share (EPS) of $0.50 in 2025. Also, it’s insulated from the general macro-economic health of the economy just like the healthcare sector. The company is improving outcomes for Canadian doctors, and this means better financial outcomes as well as patient care.

In the long term, Well Health is working to use artificial intelligence to further improve patient outcomes. For example, WELL AI decision support uses advanced AI to scan patient data from electronic patient records to aid in diagnosing over 100 diseases, including kidney disease and hypertension.

The bottom line

Investing $20,000 in these top Canadian stocks can give you exposure to two important secular trends that are going strong in 2026. Both stocks are attractively valued given their bright futures, with Enbridge stock providing its shareholders with a generous dividend and Well Health stock providing the potential to be a millionaire-maker stock.