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

Author Bio

Karen Thomas began her investment career in 1998 and spent more than a decade working as an equity analyst and portfolio manager at investment management firms, including a major mutual fund company and a major pension plan. After gaining extensive experience in the investment industry, she decided that individual investors deserved access to the same knowledge and insights to help them take greater control of their financial futures. After the birth of her second daughter, Karen left her investment management career to write for The Motley Fool, where she has been helping investors make sense of stocks and the stock market for more than 10 years. Her work focuses on identifying undervalued opportunities and helping investors take a long-term approach to building wealth. Outside of investing, Karen enjoys spending time with her family and staying active outdoors.

Education

Master of Science (MSc) in Finance
Bachelor of Commerce, major in Finance and minor in International Business
Chartered Financial Analyst (CFA) designation, earned in 2000

Areas of Expertise

Energy stocks, long-term investing, value investing, and contrarian investing.

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Favorite Investment Quote

"Be fearful when others are greedy, and greedy when others are fearful." — Warren Buffett

Published July 9, 3:45 pm EDT

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.

Canadian Red maple leaves seamless wallpaper pattern — Source: Getty Images

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.