The Toronto-Dominion Bank (TSX:TD) has been arguably my biggest stock market win in recent years. Investing about 10% of my money into the stock in December of 2024, when it was trading in the mid-seventies, I am currently up 140% on the shares (including dividends). While I did achieve a higher return on some Alphabet shares purchased at the 2025 lows, I did not invest nearly as much money in those shares. So on a dollar basis (rather than a percentage basis), TD has been my biggest win in the last year and a half.

As it turns out, my TD Bank shares have a bit of a history behind them! The 10% of my portfolio that I invested in TD was a little more than 60% of the proceeds I got from selling a block of Bank of America (NYSE:BAC) stock I’d been holding since the Spring 2023 banking crisis. Bank of America was really killing it in December of 2024 when TD was ailing and at decade-lows, and I thought that BAC had run about as far as it was going to. So I sold all my BAC and invested 60% of the proceeds into TD – I forget where I invested the rest of the BAC proceeds.

I ended up being wrong on Bank of America: BAC is at $59 now. However, TD has done far better than BAC since I sold the latter, so my series of trades has been a success. BAC at $59 is only up 28% from my sale price, while my TD shares are up 140% (again, including dividends). So, even though I put only 60% or so of my BAC winnings into TD, I still grew the sum into more than I’d have made staying put in BAC!

TD’s rise since the December 2024 lows has been nothing short of meteoric. Up 140% on a dividends-reinvested basis, it has truly crushed it. But alas all good things must come to an end, and I think TD is fully valued today. I have sold a small portion of my stock, will sell another portion if it hits $175, and may sell all of it if I find a better alternative investment (I’ll disclose one I’m thinking about momentarily).

Why I think TD is fully valued now

TD Bank stock currently trades at multiples it hasn’t seen in a long time. True, the company is growing – earnings were up 20% last quarter – but with banks being so sensitive to economic conditions, we can’t expect this to last forever. The good times will likely stop rolling eventually. In the meantime, TD currently trades at:

• 18 times trailing earnings.
• 17.7 times forward earnings (the next year’s earnings based on analyst estimates).
• 4.9 times sales.
• 2.3 times book.

These are among the highest multiples TD has traded at in the last decade.

Now you might think “yes, but compared to money-losing AI stocks trading at 100 times sales, TD’s a steal!” Not so fast. There’s a reason why banks usually trade at low-ish multiples. They are among the most leveraged businesses in the world, which creates risk, and they are cyclicals, tending to make less money when the economy is weak (some tech stocks are non-cyclical). So I think TD is getting pricey at 18 times earnings.

Where I’m looking to deploy capital now

Having established that I’ll probably be progressively selling off my TD shares in the months to come, I’ll share where I’m thinking about investing the money:

HSBC. It is a British bank expanding rapidly across Asia, with deep roots in Hong Kong. Trading at 12 times earnings, it’s cheaper than TD, and I think it has more growth potential. Don’t take this as a recommendation: my research on HSBC is far from done, and I have not bought a single share yet. But it’s an investment I’m strongly considering today.

The post TD Bank: It’s Been a Great Run, but I’ll Soon Part Ways appeared first on The Motley Fool Canada.

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• 5 Canadian Stocks Beginners Can Buy and Hold Forever
• 2 Canadian Dividend Giants to Buy With Rates on Hold
• A 3-Stock TFSA Game Plan for the Rest of 2026
• 1 TSX Stock I’d Buy After a Bad Headline Sent Shares Lower
• Canadians: Here’s How Much You Need in Your TFSA to Retire

Fool contributor Andrew Button owns shares in TD Bank. Bank of America is an advertising partner of Motley Fool Money. HSBC Holdings is an advertising partner of Motley Fool Money. The Motley Fool recommends Alphabet. The Motley Fool has a disclosure policy.

At first glance, US$650 billion is a huge number. One that raises a lot of questions. But the biggest one in this case is, where will all that money be directed?

Big Tech companies are expected to spend roughly that amount on artificial intelligence (AI) infrastructure, data centres, chips, and related systems in 2026. The problem is that data centres need electricity, and lots of it. That is why the AI buildout is no longer just a technology story. It is a power story.

Going nuclear

The International Energy Agency expects global data centre electricity consumption to more than double by 2030, reaching about 945 terawatt-hours. That would be slightly more than Japan’s total electricity consumption today. AI is the biggest driver of that growth, alongside rising demand for other digital services.

Electricity supply can become the limit on AI growth. A company can build faster chips and smarter models, but if there is not enough reliable power available, the buildout slows. That’s already changing how technology companies think about energy.

For instance, in 2024, Constellation Energy announced a 20-year power purchase agreement with Microsoft to help restart Three Mile Island Unit 1, now renamed the Crane Clean Energy Center. The restarted nuclear plant is expected to supply carbon-free power for Microsoft’s data centre electricity needs in the PJM grid.

That deal sent a clear signal. The biggest technology companies are looking for long-term, reliable, low-carbon electricity. Wind and solar can help meet rising demand, but data centres need power around the clock. That’s where nuclear power enters the picture.

CCO

For Canadian investors, this points to Cameco (TSX:CCO). Cameco stock is one of the largest global providers of uranium fuel needed for nuclear power. The company says its position is built on controlling ownership of large high-grade reserves, low-cost operations, and investments across the nuclear fuel cycle, including its ownership interest in Westinghouse Electric. And it seems more growth is on the way.

Cameco stock said about 116 million pounds of uranium were placed under long-term contracts by utilities in 2025, with increased activity late in the year. Cameco does not need every AI data centre to connect directly to a nuclear plant. It just needs nuclear demand to rise, utilities to sign long-term contracts, and uranium markets to remain tight enough to support better realized prices.

In the first quarter of 2026, Cameco stock reported net earnings of $131 million, adjusted net earnings of $203 million, and adjusted EBITDA of $509 million. Its uranium segment generated adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $423 million, up from $286 million in the same quarter of 2025.

More to come

The Westinghouse stake also gives Cameco stock a broader role in the nuclear value chain. Westinghouse is tied to reactor technology and services, giving Cameco stock exposure beyond uranium mining alone. That could matter if more countries and companies push nuclear power back into growth mode.

Still, investors should not treat Cameco as a low-risk utility. Cameco stock has already priced in a lot of optimism trading at 93.5 times trailing earnings at writing. That valuation is the main risk. If uranium prices weaken, contracting slows, production disappoints, or investors lose interest in nuclear power themes, Cameco stock could pull back sharply.

There is also execution risk. Uranium mining can be affected by production disruptions, regulatory approvals, geopolitical issues, and cost inflation. Nuclear power is gaining attention, but reactors and fuel-cycle investments take years, not months, to develop. Even so, Cameco stock remains one of Canada’s most interesting long-term AI infrastructure plays.

Bottom line

The data centre buildout may start with chips. But it cannot scale without power. If nuclear energy keeps moving from a policy debate into a practical solution for reliable electricity, Cameco stock could be one of the Canadian companies best positioned to profit from that shift. Investors looking years ahead may want to watch Cameco stock on any pullback while the AI power problem keeps getting bigger.

The post 1 Canadian Company Set to Profit From the $650 Billion Data Centre Buildout appeared first on The Motley Fool Canada.

More reading

• 3 TSX Stocks That Could Benefit from Surging Data Centre Demand
• 3 Canadian Stocks With the Potential to Triple in Value Within 5 Years
• 3 Canadian Stocks That Could Power the AI Data Centre Surge
• Why Now is the Time to Invest in Canada’s Infrastructure Boom
• Canada’s Infrastructure Boom: 3 TSX Stocks I’d Buy Now

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Cameco, Constellation Energy, and Microsoft. The Motley Fool has a disclosure policy.

One of the biggest mistakes beginners make is chasing the next hot stock. While that approach can be tempting, long-term wealth is usually built by owning top Canadian stocks and giving them time to grow.

The best Canadian stocks for beginners are the companies with proven business models, durable competitive advantages, consistent earnings growth, and the financial strength to weather economic downturns. Over time, these businesses can reward shareholders through capital appreciation, growing dividends, and compounding.

In this context, here are high-quality Canadian stocks beginners can buy and hold forever.

Canadian stock for beginners #1: Fortis

Fortis (TSX:FTS) could be a great choice for beginners. The utility giant offers a solid combination of income and stability, and also has significant growth prospects.

It is engaged in regulated electricity and natural gas transmission and distribution, which provides predictable revenue and robust cash flows. Since most of its earnings come from regulated operations, Fortis is less vulnerable to economic downturns, giving it stability. Thanks to its predictable cash flows, the company has increased its dividend annually for more than five decades.

Fortis will invest $28.8 billion over the next five years to expand its regulated assets, supporting future earnings and dividend growth. Growing electricity demand, asset optimization, and a strong balance sheet further strengthen its growth story.

Canadian stock for beginners #2: Hydro One

Hydro One (TSX:H) is one of Canada’s leading electricity transmission and distribution companies, and a compelling stock for beginners. Its regulated business provides stability and predictable cash flow, enabling it to reward shareholders with consistent dividend growth. Moreover, its steady earnings growth supports its share price.

Hydro One is well-positioned to deliver solid growth. Hydro One’s growing rate base, ongoing investments in grid modernization, multi-billion-dollar capital plan, and electrification initiatives are expected to support steady growth over time. H stock is expected to keep growing its dividend over time. Moreover, solid earnings will support its share price.

Canadian stock for beginners #3: Loblaw

Loblaw (TSX:L) could be a solid stock for beginners. Its defensive business, steady payouts, and a solid long-term growth potential make it a compelling investment. Canada’s leading food and pharmacy retailer has delivered impressive returns, with its stock surging about 133% over the past three years.

The retailer is expanding its store network, enhancing its product assortment, and increasing its presence in discount formats, all of which augur well for growth. In addition, its attractive loyalty rewards program, growing penetration of private-label products, and expanding digital platforms should continue supporting its growth. In addition, Loblaw’s focus on driving efficiency and divesting non-core businesses will boost earnings and support its payouts and stock price.

Canadian stock for beginners #4: Canadian Natural Resources

Canadian Natural Resources (TSX:CNQ) is another attractive stock for beginners, offering income and growth. The oil and gas producer owns high-quality assets that generate significant free cash flow across commodity price cycles. The energy company has consistently raised its dividend for 26 consecutive years, supported by its diversified asset base and disciplined capital allocation.

Notably, its long-life, low-decline assets, growing production, and strategic acquisitions will likely drive its distributions in the years ahead. In addition, the company’s commitment to debt reduction and undeveloped land holdings provides a solid foundation for steady growth and will likely support its payouts.

Canadian stock for beginners #5: Toronto-Dominion Bank

Toronto-Dominion Bank (TSX:TD) is another reliable stock for beginners. The Canadian banking giant has delivered strong operating performance across economic cycles. As a result, TD stock price has gained over 72% in a year. The bank has been paying dividends for over a century and has increased them at an average annual rate of about 8% over the past decade. Its payouts are supported by a diversified revenue base, helping cushion earnings during economic slowdowns.

TD’s stock price is likely to gain over time as its business expands. Its growing loan and deposit volumes, increasing trading and fee income, and lower credit-loss provisions will drive solid earnings growth. Looking ahead, TD’s diversified revenue, operating efficiency, and focus on accretive acquisitions position it well for steady earnings growth and solid dividend payouts.

The post 5 Canadian Stocks Beginners Can Buy and Hold Forever appeared first on The Motley Fool Canada.

More reading

• TD Bank: It’s Been a Great Run, but I’ll Soon Part Ways
• 2 TSX Stocks That Could Win Big From Canada’s Energy Advantage
• 3 Canadian Stocks That Could Turn Market Volatility Into Long-Term Gains
• 2 Canadian Dividend Giants to Buy With Rates on Hold
• 2 High-Yield Dividend Stocks That Could Be a Safer Pick for Canadian Retirees

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Canadian Natural Resources and Fortis. The Motley Fool has a disclosure policy.

Canadian investors should not overlook energy stocks in 2026. And there’s a $140-billion reason why.

That was the value of Canada’s crude oil exports in 2025, according to the Canada Energy Regulator. Canada exported 4.3 million barrels of crude oil per day (boe/d) that year, with 90.1% of that volume going to the United States.

The story is not slowing down, either. The Canada Energy Regulator said Canadian crude oil and equivalent production averaged a record 5.35 million barrels per day in 2025, up from 5.14 million boe/d in 2024. Production reached 5.64 million boe/d in December 2025.

Statistics Canada points to the same advantage. Crude oil from the Alberta oil sands remained the largest share of Canadian production in 2025, with oil sands output rising 3.9% to 203.1 million cubic metres. It also noted that the expanded Trans Mountain pipeline helped ease an export bottleneck and opened new opportunities to deliver Canadian crude to Asian markets. Canadian Natural Resources (TSX:CNQ) and Enbridge (TSX:ENB) offer strong ways to take advantage of today’s opportunity.

CNQ

CNQ owns a massive asset base across oil sands mining, thermal in situ production, conventional oil, natural gas, and offshore assets. In the first quarter of 2026, CNQ produced about 1.6 million boe/d, up 4% from the prior year. It also generated adjusted funds flow of $4.4 billion. Thus, CNQ is not just sitting on reserves, but turning production into cash.

CNQ also returned about $1.5 billion directly to shareholders in the quarter through dividends and share repurchases. Its annualized dividend rose to $2.50 per share in 2026, marking its 26th consecutive year of dividend increases yielding 4.4% at writing while trading at 11.7 times earnings.

The risk is oil prices. CNQ can generate huge cash flow when commodity prices are strong, but weaker crude prices can pressure earnings, buybacks, and investor confidence. Regulatory uncertainty around major oil sands growth projects is another factor to watch. Still, for investors who want direct exposure to Canada’s production advantage, CNQ looks like one of the clearest TSX choices.

ENB

Enbridge, meanwhile, is not primarily a producer, but an energy infrastructure giant. The company moves oil and natural gas, operates gas utilities, owns storage assets, and invests in renewable power. That makes it less about guessing next month’s oil price and more about collecting cash flow from the movement and delivery of energy. Canada can produce more oil, but production only matters if energy can reach refineries, export terminals, utilities, and end users. Enbridge stock sits in the middle of that system.

Enbridge reaffirmed its 2026 financial guidance for adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) between $20.2 billion and $20.8 billion, as well as distributable cash flow per share between $5.70 and $6.10.

The dividend record is also hard to ignore. Enbridge increased its quarterly dividend by 3% to $0.97 per share for 2026, or $3.88 annualized. That marked its 31st consecutive annual dividend increase, now yielding about 5.1% while trading at about 26 times earnings. What’s more, Enbridge’s business is tied to energy demand across North America, not just one oil-price cycle. That makes it a steadier way to invest in Canada’s energy advantage.

Bottom line

CNQ and Enbridge stock are not interchangeable. Canadian Natural offers more direct upside if production, oil prices, and shareholder returns remain strong. Enbridge stock offers more predictable income from the infrastructure that supports energy flows.

Together, these show why Canada’s energy advantage still matters on the TSX. Investors looking years ahead do not need to choose between growth and income. They can own the producer turning barrels into cash and the infrastructure giant moving that energy to market.

The post 2 TSX Stocks That Could Win Big From Canada’s Energy Advantage appeared first on The Motley Fool Canada.

More reading

• 5 Canadian Stocks Beginners Can Buy and Hold Forever
• Where I See Enbridge Stock Heading Over the Next 3 Years
• 5 TSX Dividend Stocks With Solid Yields Built for Steady Cash Flow in Any Market
• 3 Canadian Stocks That Could Turn Market Volatility Into Long-Term Gains
• 2 Canadian Dividend Giants to Buy With Rates on Hold

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends Canadian Natural Resources and Enbridge. The Motley Fool has a disclosure policy.

Enbridge Inc (TSX:ENB) has been one of Canada’s best performing energy stocks over the last five years. It has risen 109% in price in that timeframe; it started off the timeframe with a 7% dividend yield and has increased the dividend by a 3.1% CAGR over the period. Therefore, it has delivered a 164% total return in five years. Nice!

So, Enbridge has been on a great run lately. It’s way up in the markets and paying rising dividends. Furthermore, as I’ll show momentarily, the price increases appear to have been supported by improved fundamentals.

Enbridge has been a winner lately. That doesn’t mean that it’s going to be a winner forever though. In this article, I’ll explore where I see Enbridge going in the next three years.

Fundamentals: Slow and steady growth

I’d expect slow, steady, and positive growth from Enbridge in the next three years. There are a few reasons for this:

1. Enbridge operates on a landlord-like model. Its clients sign on to rent out space in its pipelines for periods of 10–20 years. Even if oil prices drop, Enbridge’s money keeps coming in.
2. The current oil & gas market is pretty healthy, and that could help Enbridge gain more toll-paying clients.
3. While Trump has tariffed Canadian goods, energy is tariffed less than other things, and I’m not even sure it’s tariffed anymore after the Supreme Court’s recent decision on Trump tariffs (SCOTUS blocked the tariffs, but Trump started re-implementing them using different legal routes).

One thing is certain: Enbridge has been doing a lot of growing in the last three years. In the trailing 12 month (TTM) period, its revenue was up 13% and earnings up 9%. Over the last three years, earnings compounded at a 35% CAGR. That’s pretty impressive growth, though it was preceded by little to negative growth in earlier periods. Over the last 10 years, Enbridge’s earnings are up only 4.5% CAGR. This is about the rate of growth I’d expect over the next three years.

Stock performance: Harder to say

As for the performance of Enbridge’s stock, that’s hard to say. The stock currently trades at 25 times earnings. This is a little pricey for a typical pipeline stock, and as I wrote above, I’m expecting the earnings growth rate to mean-revert. The actual return investors get over the next three years, probably won’t match what they got over the last three. Nevertheless ENB’s dividend yield is quite high and while the payout ratio is above 100%, the company has had payout ratios above 100% for practically its entire history and it has never been a problem. I think the company may be pushing it a little with dividends, but I don’t think dividend payouts will crush the company over the next three years, or anything like that. I think returns will just be a little underwhelming.

Foolish takeaway

Taking everything above into account, I have decided not to invest in Enbridge stock. I think it has run up enough already and is too pricey relative to its growth potential. Furthermore, I find its history of consistently above-100% payout ratios concerning. Over the next three years, I’d expect investors to collect the dividend but not much else.

The post Where I See Enbridge Stock Heading Over the Next 3 Years appeared first on The Motley Fool Canada.

More reading

• 2 TSX Stocks That Could Win Big From Canada’s Energy Advantage
• 5 TSX Dividend Stocks With Solid Yields Built for Steady Cash Flow in Any Market
• 2 Canadian Dividend Giants to Buy With Rates on Hold
• 1 High-Yield Dividend Stock to Buy and Hold for a Decade or More of Income
• 1 Dividend Stock Every Canadian Should Consider Owning

Fool contributor Andrew Button has no positions in the stocks mentioned. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.

Standing in mid-2026, it’s time for the half-yearly review of your Tax-Free Savings Account (TFSA) portfolio and the necessary rebalancing for the rest of 2026. The TSX saw a V-shaped recovery from the US-Iran war as energy prices corrected.

Uncertainty continues to keep the market on its toes

The July 1 review of the Canada-U.S.-Mexico Agreement (CUSMA) was as expected. The Trump administration declined to extend the deal and proposed using certain protocols with Canada and Mexico. However, that does not evaporate the agreement, as it will be effective until July 1, 2036, provided the United States doesn’t withdraw by giving a six-month notice. U.S. President Donald Trump has not yet threatened to withdraw, but has not ruled out that option either.

The CUSMA agreement is important for Canada as 90% of its exports are tied to it. Bombardier and Magna International are among the key beneficiaries and could be particularly affected if the US withdraws. If you own either of the two stocks in your TFSA, you could continue holding them. However, consider booking profits while they still trade near their 52-week high, as they have rallied 117% and 62%, respectively, over the last year.

Investing in the next leg of growth

You could consider investing the profits from rebalancing in the seasonal stocks like Shopify (TSX:SHOP). The stock has completed its seasonal fall in May and saw flattish growth in June. The real rally will probably begin at the end of October. Now is the perfect time to accumulate more stocks.

What makes me bullish about Shopify is its accelerated revenue growth in the seasonally weak first quarter. As Warren Buffett rightly said, “Only when the tide goes out do you discover who’s been swimming naked.” Thus, I took the weak season and compared the fundamentals. The revenue growth is two-tiered.

The subscription growth is increasing because Shopify is not just adding small and medium businesses and online stores. It has expanded its base to also serve enterprises, international retailers, offline stores, and business-to-business networks. This has increased its addressable market.

The merchant solution revenue is growing as Shopify adds more tools, cross-sells its products to merchants, and helps them increase sales from their Shopify stores. It is offering its merchants artificial intelligence (AI) tools to enhance their online store performance and sell more. This shows that Shopify is expanding its business profitably.

How to make the most of Shopify stock in a TFSA

You can leverage this trend of Shopify through a short and long-term investing strategy. Buy Shopify stocks between April and June and book profits between November and January. So if you bought $10,000 worth of shares in June, which increases to $15,000 in December, sell shares worth $5,000 and keep the $10,000 invested in the TFSA for the long term. Instead of withdrawing $5,000, hold it and reinvest it in Shopify’s April dip.

Since you are reinvesting within the TFSA, your next year’s contribution room remains intact, and this rebalancing remains tax-free.

Another TFSA growth stock for the second half of 2026

You could also consider buying Celestica (TSX:CLS) stock, which corrected 15% between May and June, along with the overall AI infrastructure market. Too much money is being poured into building the infrastructure. Companies using AI have exhausted their AI budget by experimenting with expensive tokens. They are now revisiting their AI budget, asking for the return on every token used. But that did not stop hyperscalers from building AI infrastructure. In fact, telecom companies and governments are building sovereign AI, creating demand from enterprises.

AI stocks saw a pullback as SpaceX debuted on the stock market. Anthropic and OpenAI are planning their entry, making existing AI stocks compete for investor money. However, retail investors will likely return to AI chips as that is where profits are in the AI supply chain for the time being.

The post The TFSA Strategy I’d Be Following Heading Into the Rest of 2026 appeared first on The Motley Fool Canada.

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• This Stock Could Be Your Ticket to Millionaire Status

The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Celestica and Magna International. The Motley Fool has a disclosure policy. Fool contributor Puja Tayal has no position in any of the stocks mentioned.

Top TSX Dividend stocks with solid yields can help you generate reliable income in any market. These are the companies with a resilient business model, consistent earnings, and strong cash flows. Moreover, they have a strong history of dividend payments and growth. Notably, these Canadian companies are likely to keep paying and increasing their dividends over the years.

For passive-income investors, here are five TSX dividend stocks with solid yields that are built for steady cash flow in any market.

Top TSX dividend stock #1: Emera

For investors seeking reliable cash flow in any market, utility stocks remain a compelling choice due to their stable cash flows and defensive business models. Emera (TSX:EMA) stands out with its regulated electricity and natural gas operations, which generate predictable earnings and have supported 19 consecutive years of dividend increases.

Emera stock currently offers a solid yield of about 4%, which is sustainable. Looking ahead, Emera plans to invest over $20 billion by 2030. The investment will help expand its renewable energy capacity, modernize grid infrastructure, strengthen energy storage, and upgrade natural gas infrastructure. These investments are expected to drive annual earnings growth of 5% to 7%, supporting future dividend growth. Overall, EMA is a top stock for steady income.

Top TSX dividend stock #2: Brookfield Infrastructure Partners

Brookfield Infrastructure Partners (TSX:BIP.UN) is a solid stock for steady income. Its payouts are supported by a diversified portfolio of essential infrastructure assets across utilities, transport, midstream energy, and digital infrastructure. Its earnings are highly resilient because most revenue comes from regulated businesses or long-term contracts, insulating cash flows from economic volatility.

Thanks to its low-risk, high-quality cash flow, Brookfield Infrastructure has raised its distributions for 17 consecutive years. It offers a compelling yield of over 4.7% and targets a sustainable payout ratio of 60%–70% of funds from operations (FFO). Looking ahead, its resilient operating structure, data centre demand, disciplined capital recycling, and a strong balance sheet will enable Brookfield to deliver its targeted 5%–9% annual distribution growth.

Top TSX dividend stock #3: Enbridge

Enbridge (TSX:ENB) is a top stock to generate steady cash in any market. Most of its cash flow comes from regulated assets and long-term contracts, limiting exposure to commodity price swings and supporting consistent dividend payments. Enbridge has increased its dividend annually since 1995, offers a high yield of over 5.1%, and targets a payout ratio of 60%–70% of distributable cash flow (DCF).

Enbridge’s secured $39 billion project backlog will likely support its growth in the years ahead. Management forecasts about 5% annual earnings and DCF per share growth, which will support future dividend hikes. In addition, the growing demand for power and energy transition projects further strengthens its long-term growth prospects.

Top TSX dividend stock #4: Whitecap Resources

Whitecap Resources (TSX:WCP) is a reliable dividend stock offering a high yield of over 5% and monthly payouts. The energy company has returned over $3.2 billion in dividends to shareholders since 2013 and has maintained its payouts through volatile commodity cycles. Its acquisition of Veren has strengthened production, expanded its asset base, and enhanced long-term growth potential.

Whitecap is well-positioned to sustain its payouts. It targets a conservative 20–25% payout ratio, which supports its distributions and growth initiatives. Its diversified asset portfolio, operational efficiency, and disciplined spending position WCP stock to keep rewarding its shareholders with steady cash.

Top TSX dividend stock #5: Gibson Energy

Gibson Energy (TSX:GEI) is a reliable TSX dividend stock offering a solid yield and steady cash flow. Its storage terminals, processing facilities, and marine operations generate predictable cash flow through long-term contracts with investment-grade customers. The company has raised its dividend for seven straight years, including a recent 5% increase. Moreover, it offers a yield of over 6.2%.

Gibson is well-positioned to support its future payouts. Its ongoing infrastructure investments and the acquisition of Teine Energy’s Chauvin assets should expand its Canadian crude oil network and drive steady EBITDA growth. Further, its resilient cash flows and disciplined capital allocation position are well-suited to deliver reliable and growing dividend income over the long term.

The post 5 TSX Dividend Stocks With Solid Yields Built for Steady Cash Flow in Any Market appeared first on The Motley Fool Canada.

More reading

• 2 TSX Stocks That Could Win Big From Canada’s Energy Advantage
• Where I See Enbridge Stock Heading Over the Next 3 Years
• A Perfect July TFSA With a 5% Monthly Payout
• 2 Canadian Dividend Giants to Buy With Rates on Hold
• A 3-Stock TFSA Game Plan for the Rest of 2026

Fool contributor Sneha Nahata has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Infrastructure Partners, Emera, Enbridge, and Gibson Energy. The Motley Fool has a disclosure policy.

It can be pretty tough to time sizeable comebacks, especially if we’re talking about a company that’s fallen drastically out of favour, either due to industry headwinds or company-specific matters that may or may not be solvable. Indeed, strategic turnarounds and comeback plans don’t always come to fruition in a timeline that’s quick enough for value investors.

That said, I do think that some names are worth picking up, provided you have faith in management’s ability to execute on a comeback plan. And, of course, you should have the patience and time horizon to wait for the changes to happen behind the scenes. In my view, it’s not enough to just have a turnaround plan.

After all, any firm can put together a plan in place to entice investors. What’s really a game-changer, at least in my humble opinion, is the management team’s ability to act on a plan and maybe even overdeliver on promises. For value investors, one needs to have more than faith in a company’s stewardship at a time of turmoil; one must have faith that a company can do well, regardless of who’s in the driver’s seat.

To paraphrase the great Oracle of Omaha, Warren Buffett, you should seek to own the kinds of businesses that can be run by someone who isn’t exactly an exceptional steward. Indeed, management teams are important, but if you’ve got a business that’s powerful enough to do well over decades, through good managers and bad, you might have a business that’s worth picking up and stashing away in a TFSA or RRSP for the long run.

Alimentation Couche-Tard

One name that, in my view, is equipped for a huge comeback this year is Alimentation Couche-Tard (TSX:ATD). Arguably, it has already begun its comeback, with shares recently rocketing past $90 per share for the first time. Though this breakout moment was a long time coming, I do think that the rally has legs, especially as the “misunderstood name” looks to get back on the M&A track. Indeed, the stock was unfairly punished for fuel price volatility experienced earlier in the year.

As it turned out, Couche-Tard wasn’t as vulnerable as some may have thought. Indeed, if you listened to the managers, you would have done quite well with the name. What’s up ahead, according to new CEO Alex Miller and his team?

While Couche-Tard is starting to shine again, it is worth noting that the name has lagged the TSX Index in the past two years, gaining just 14.6% versus around 60% for the TSX Index. With a “Core + More” strategy that aims to improve upon food and essentials (fuel, nicotine, and drinks) as well as forward-looking earnings drivers (M&A and new futuristic concepts, including EV charging and frictionless checkout), I do think that another leg higher could be in the cards as investors look to uncover the hidden value they’ve been missing from the name.

While Couche-Tard has thrived on “core” of late, I do think that the “more” aspect could be the hidden catalyst that helps Couche-Tard make a huge comeback as it looks to outpace the TSX Index once again after a two-year breather. If you’re willing to hold through 2030, I think the name could be a growth-value gem. In my view, frictionless checkout and more tech in stores could be a huge margin driver as the firm looks to remove hurdles in the way of shoppers who come into its doors.

Bottom line

For a glimpse of the future, look no further than the Couche-Tard Connecté stores (a compelling concept that may one day become the norm), which leverage computer vision at the till to make for a labour-light store. Add the Fit-to-Serve initiative (it plays on the automation and optimization playbook) into the equation, and it’s more apparent that the runway is clear for next-level earnings growth through 2030 and beyond.

The post A Canadian Stock Poised for a Massive Comeback in 2026 appeared first on The Motley Fool Canada.

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Fool contributor Joey Frenette has positions in Alimentation Couche-Tard. The Motley Fool has positions in and recommends Alimentation Couche-Tard. The Motley Fool has a disclosure policy.

While finding a stock that pays a generous monthly income is easy, finding one that could continue growing while supporting those payouts is much harder. That’s why Tax-Free Savings Account (TFSA) investors should pay attention to businesses that combine strong operations with reliable cash flow instead of chasing the highest dividend yield on the market.

This July, one Canadian energy stock checks those boxes. It has been producing more oil and gas, raising its production outlook, and generating enough free cash flow to reward shareholders without stretching its finances.

Adding to the optimism, all those dividends could grow inside a TFSA without creating a tax bill. If you’re looking for an investment that offers both dependable monthly income and the potential for long-term capital appreciation, this energy stock could be one of the smartest additions to your TFSA right now. Let’s take a closer look.

Why Whitecap fits this income goal

The stock I’m looking at for a July TFSA focused on steady monthly income is Whitecap Resources (TSX:WCP). This oil-weighted producer holds assets across Alberta and Saskatchewan with exposure to both conventional and unconventional resource plays.

As of July 6, WCP stock traded at $14.43 per share with a market cap of $17.5 billion. At that price, the stock offers a dividend yield of roughly 5%.

Beyond those dividends, the stock has also impressed investors lately by delivering strong gains. Interestingly, Whitecap stock is up about 25% year to date, and has seen a 55% run over the last year. That strong performance clearly shows that investors have already been rewarding the company for its execution. That means the stock is not only paying income today, but also leaving room for capital gains over time.

Operational momentum is still strong

The ongoing strength in Whitecap’s operations and financials could be one of the key reasons why its stock has performed well in the last year.

In the first quarter, the company’s production reached a record 391,416 barrels of oil equivalent per day (boe/d), with liquids making up 62% of the total. New well productivity, improved cycle times, and strong base production all helped drive that result, which gave its management enough confidence to raise full-year guidance by 7,500 boe/d while keeping the same capital budget.

The financial side looked just as solid. In the latest quarter, its quarterly funds flow reached $0.84 per share, up 12% from a year ago. At the same time, its free funds flow came in at $349 million even as capital spending totalled $676 million. That is a strong sign the business could keep funding growth, supporting the dividend, and preserving flexibility at the same time.

A stronger balance sheet and bright growth prospects

Another reason Whitecap looks appealing is the way the company is tightening the balance sheet while staying ready for opportunity. Recently, the energy producer reduced its bank credit facility from $3 billion to $2.5 billion and pushed the maturity date out to September 19, 2030. That still leaves plenty of liquidity, but it also shows confidence in its financial position.

Meanwhile, Whitecap continues leaning into high-return projects in the Montney and Duvernay, where its new wells have outperformed expectations by 10%. That execution is a big reason WCP stock still looks attractive right now.

Overall, the company is producing more, generating healthy cash flow, and protecting its balance sheet without giving up growth. That makes it a great stock to invest in July 2026 for anyone who wants monthly income potential with long-term upside.

The post A Perfect July TFSA With a 5% Monthly Payout appeared first on The Motley Fool Canada.

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Fool contributor Jitendra Parashar 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.

Canadian household net worth rose in 2025, and not by a little. In fact, Canadian households reached $18.6 trillion in net worth in 2025, and it’s a reminder that market volatility does not hurt everyone the same way.

Statistics Canada said the gain came entirely from financial assets, mainly equity markets. The wealthiest households benefited most, with the top 20% accounting for 65.7% of Canada’s total net worth by the end of the year.

The Bank of Canada warned that the global backdrop remains unsettled. Its 2026 Financial Stability Report said financial markets have faced periods of increased volatility and reduced liquidity, especially in energy, while equity valuations remain elevated and credit spreads are tight.

That creates a useful lesson for investors. Volatility can feel like a threat when stock prices fall. But for people who keep investing through the swings, it can also become a wealth-building tool.

BN

Brookfield (TSX:BN) is built for markets like this. The company owns and manages assets across infrastructure, renewable power, real estate, credit, insurance, and private equity. In the first quarter of 2026, Brookfield reported distributable earnings of US$1.6 billion. It also repurchased more than US$1 billion of BN and Brookfield Asset Management shares year to date, including US$470 million of BN shares.

The stock is not a simple dividend pick with a low yield around 0.65%, so investors should buy it for long-term compounding rather than income. Shares also remain below their recent 52-week high, giving investors a more interesting entry point than during a full market rush.

The risk is complexity. Brookfield owns many moving parts, and higher interest rates can weigh on asset values, real estate, and financing costs. Investors need patience and comfort with a company that is harder to analyze than a bank or utility. Still, if volatility creates more distressed sellers, Brookfield could turn today’s uncertainty into tomorrow’s gains.

SHOP

Shopify (TSX:SHOP) is the higher-growth name on this list. The company gives merchants the tools to sell online, in stores, across social channels, and through global commerce networks. It is also building deeper artificial intelligence (AI) tools into its platform, which could make merchants more efficient and more competitive.

Volatility can hurt Shopify stock because the valuation is high. But the business continues to expand. In the first quarter of 2026, Shopify stock generated US$3.2 billion in revenue, up 34% year over year. Gross merchandise volume (GMV) passed US$100 billion in a single quarter, while free cash flow reached US$476 million and the free cash flow margin stayed at 15%.

Furthermore, Shopify stock expanded its share-buyback authorization by US$3 billion, bringing the total program to US$5 billion, after the stock came under pressure in 2026. That said, Shopify stock recently traded at 119 times trailing earnings, so even a small disappointment can send the stock lower. But long-term investors need the company to keep gaining merchant share, expanding free cash flow, and proving that AI makes its platform more valuable.

CNQ

Canadian Natural Resources (TSX:CNQ) gives investors a very different kind of volatility play. Oil and gas stocks can swing with crude prices, geopolitics, pipeline headlines, and global demand. Yet Canada’s energy role remains enormous. The Canada Energy Regulator said Canada exported 4.3 million barrels per day of crude oil (boe/d) in 2025, worth $140 billion. About 90% of that crude went to the United States.

CNQ is one of Canada’s largest oil and gas producers, with a deep asset base and a long record of returning cash to shareholders. The latest results show the strength. In the first quarter of 2026, CNR produced about 1.6 million boe/d, up 4% from the prior year. It generated adjusted funds flow of about $4.4 billion and returned about $1.5 billion to shareholders through dividends and buybacks.

The dividend is another attraction. CNQ raised its annualized dividend to $2.50 per share in 2026, marking its 26th consecutive year of dividend increases, now yielding 4.4% trading at 11.7 times earnings.

Bottom line

Brookfield, Shopify, and CNQ stock are not the same kind of stock. Yet that’s the appeal here. Investors with years to stay invested can use volatility as an entry point rather than a reason to step aside.

The post 3 Canadian Stocks That Could Turn Market Volatility Into Long-Term Gains appeared first on The Motley Fool Canada.

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• 1 Canadian Dividend Stock Down 13% to Buy and Hold Forever

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Brookfield Corporation and Shopify. The Motley Fool recommends Canadian Natural Resources. The Motley Fool has a disclosure policy.