The primary aim of every investment in stocks is profitability, several strategies are deployed by every investor to achieve the aim. These strategies include shorting stocks; buying stocks to hold through a long haul; holding stocks for the short term and others.
We did a study of some Canadian stocks floated on New York Stock Exchange (NYSE) and Toronto Stock Exchange (TSX) to determine the best stocks to buy right now.
In this article, we present ten (10) selected stocks that can effectively meet the investors’ aim and objective of profitability. The selected stocks are chosen based on the following criteria: best possible value; fastest growth; most momentum.
Disclaimer: Stock trading is risky and not suitable for every investor. The valuation of stocks fluctuates constantly, so this article might not reflect the current market situation. This is only for informational purposes. Please contact your financial advisor before making any financial decisions.
1. Telus Stock (TSE: T)
Telus corporation together with its subsidiaries provides a range of telecommunications and information technology products and services in Canada. It operates through the wireless and wireline segments. It has 16.0 million subscriber connections.
The company was initially known as Telus Communications Inc, founded in 1993, before it changed its name to Telus Corp. in February 2005. It’s headquartered in Vancouver, Canada.
Record on the table as of March 7, 2021.
| S.N. | Telus (TSE: T) | |
| 1 | Share Value | CA$26.36 |
| 2 | Market Capitalization | CA$34.19 billion |
| 3 | Dividend Yield | 4.82% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Buy – 3.00 |
| 6 | Consensus Price Target | CA$29.14 |
| 7 | Price Target Upside | 10.53% Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$1.32 |
| 9 | P/E Ratio | 28.04 |
2. Cogeco Communications Inc. Stock (TSE: CCA)
Cogeco Communications Inc. is a subsidiary of Cogeco Inc. and it operates as a communications corporation in North America. It operates in two segments, Canadian Broadband Services, and American Broadband Services. The company offers Internet, video, and telephony services to residential and business customers through its two-way broadband fiber networks.
It offers cable operator services under the Cogeco Connexion name in Québec and Ontario, and in the United States under the Atlantic Broadband brand. The company was formerly known as Cogeco Cable Inc. and it was founded in 1972. However, it changed its name to Cogeco Communications Inc. in January 2016. It is headquartered in Montreal, Canada.
Record on the table as of March 7, 2021.
| S.N. | Cogeco Communications Inc. (TSE: CCA) | |
| 1 | Share Value | CA$115.94 |
| 2 | Market Capitalization | CA$5.55 billion |
| 3 | Dividend Yield | 2.23% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Hold, Buy – 2.75 |
| 6 | Consensus Price Target | CA$123.64 |
| 7 | Price Target Upside | 6.64% Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$1.94 |
| 9 | P/E Ratio | 14.15 |
3. Metro Inc. Stock (TSE: MRU)
Metro Inc. operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada. It operates food stores, drug stores, and pharmacies. As of January 27, 2021, the company operated a network of approximately 950 food stores under various banners, including Metro, Metro Plus, Super C, and Food Basics, as well as approximately 650 drugstores primarily under the Jean Coutu, Brunet, Metro Pharmacy, and Food Basics Pharmacy banners.
It also manufactures generic drugs; and provides online grocery shopping services. The company serves restaurants, other chains, non-franchised drugstores, and various health centers, as well as consumers. Metro Inc. was founded in 1947 and is headquartered in Montréal, Canada.
Record on the table as of March 7, 2021.
| S.N. | Metro Inc. (TSE: MRU) | |
| 1 | Share Value | CA$54.33 |
| 2 | Market Capitalization | CA$13.50 billion |
| 3 | Dividend Yield | 1.86% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Hold – 2.00 |
| 6 | Consensus Price Target | CA$62.17 |
| 7 | Price Target Upside | 14.42% Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$3.46 |
| 9 | P/E Ratio | 16.82 |
4. Canadian Utilities Limited Stock (TSE: CU)
Canadian Utilities Limited and its subsidiaries engage in the electricity, pipelines, and liquids, and retail energy businesses worldwide. It operates through Electricity, Pipelines & Liquids, and Corporate & Other segments.
The Electricity segment provides electricity generation, transmission, and distribution; and related infrastructure solutions in Alberta, Ontario, the Yukon, the Northwest Territories, Canada, as well as in Australia and Mexico.
The Pipelines & Liquids segment offers integrated natural gas transmission, distribution, and storage; industrial water solutions; and related infrastructure development throughout Alberta and the Lloydminster area of Saskatchewan in Canada, as well as Western Australia and Mexico. The company was incorporated in 1927 and is headquartered in Calgary, Canada. Canadian Utilities Limited is a subsidiary of ATCO Ltd.
Record on the table as of March 7, 2021.
| S.N. | Canadian Utilities Limited (TSE: CU) | |
| 1 | Share Value | CA$30.59 |
| 2 | Market Capitalization | CA$8.35 billion |
| 3 | Dividend Yield | 5.86% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Hold, Buy – 2.50 |
| 6 | Consensus Price Target | CA$35.75 |
| 7 | Price Target Upside | 16.87 Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$2.11 |
| 9 | P/E Ratio | 23.17 |
5. Fortis Inc Stock (TSE: FTS)
Fortis Inc. operates as an electric and gas utility company in Canada, the United States, and the Caribbean countries. It generates, transmits, and distributes electricity to approximately 429,000 retail customers in southeastern Arizona; and 97,000 retail customers in Arizona’s Mohave and Santa Cruz counties with an aggregate capacity of 3,143 megawatts (MW), including 59 MW of solar capacity.
The company also sells wholesale electricity to other entities in the western United States; owns gas-fired and hydroelectric generating capacity totaling 65 MW; and distributes natural gas to approximately 1,041,000 residential, commercial and industrial, and transportation customers in British Columbia, Canada.
Also, it owns and operates the electricity distribution system that serves approximately 568,000 customers in southern and central Alberta; owns 4 hydroelectric generating facilities with a combined capacity of 225 MW; and provides operation, maintenance, and management services to five hydroelectric generating facilities.
Furthermore, the company distributes electricity in the island portion of Newfoundland and Labrador with an installed generating capacity of 143 MW; and on Prince Edward Island with a generating capacity of 140 MW.
It also provides integrated electric utility service to approximately 66,000 customers in Ontario; approximately 269,000 customers in Newfoundland and Labrador; approximately 31,000 customers on Grand Cayman, Cayman Islands; and approximately 15,000 customers on certain islands in Turks and Caicos.
Fortis also holds long-term contracted generation assets in Belize consisting of 3 hydroelectric generating facilities with a combined capacity of 51 MW; and the Aitken Creek natural gas storage facility. It also owns and operates approximately 91,000 circuit Kilometers (km) of distribution lines; and approximately 49,500 km of natural gas pipelines. Fortis Inc. was founded in 1885 and is headquartered in St. John’s, Canada.
Record on the table as of March 7, 2021.
| S.N. | Fortis Inc (TSE: FTS) | |
| 1 | Share Value | CA$50.21 |
| 2 | Market Capitalization | CA$23.44 billion |
| 3 | Dividend Yield | 4.03% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Hold, Buy, Strong Buy – 2.71 |
| 6 | Consensus Price Target | CA$59.22 |
| 7 | Price Target Upside | 17.95 Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$2.80 |
| 9 | P/E Ratio | 19.31 |
6. TC Energy Corporation Stock (TSE: TRP)
TC Energy Corporation operates as an energy infrastructure company in North America. It operates through Canadian Natural Gas Pipelines, U.S. Natural Gas Pipelines, Mexico Natural Gas Pipelines, Liquids Pipelines, and Power and Storage segments.
The company builds and operates a 93,400 km network of natural gas pipelines, which transports natural gas from supply basins to local distribution companies, power generation plants, industrial facilities, interconnecting pipelines, LNG export terminals, and other businesses. It also has regulated natural gas storage facilities with a total working gas capacity of 535 billion cubic feet.
Besides, it has an approximately 4,900 km liquids pipeline system that connects Alberta crude oil supplies to refining markets in Illinois, Oklahoma, Texas, and the U.S. Gulf Coast. The company also owns or has interests in seven power generation facilities with a combined capacity of approximately 4,200 megawatts that are powered by natural gas and nuclear fuel sources located in Alberta, Ontario, Québec, and New Brunswick; and owns and operates approximately 118 billion cubic feet of non-regulated natural gas storage capacity in Alberta.
The company was formerly known as TransCanada Corporation and changed its name to TC Energy Corporation in May 2019. TC Energy Corporation was incorporated in 1951 and is headquartered in Calgary, Canada
Record on the table as of March 7, 2021.
| S.N. | TC Energy Corporation (TSE: TRP) | |
| 1 | Share Value | CA$56.94 |
| 2 | Market Capitalization | CA$56.37 billion |
| 3 | Dividend Yield | 6.20% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Hold, Buy – 2.71 |
| 6 | Consensus Price Target | CA$68.80 |
| 7 | Price Target Upside | 20.83 Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$4.19 |
| 9 | P/E Ratio | 13.63 |
7. Emera Incorporated Stock (TSE: EMA)
Emera Incorporated is an energy and services company with subsidiaries, it engages in the generation, transmission, and distribution of electricity to various customers. It operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.
The company is also involved in the purchase, transmission, distribution, and sale of natural gas; and the provision of energy marketing, trading, and other energy asset management services.
Also, it transports re-gasified liquefied natural gas to consumers in the northeastern United States through its 145-kilometer pipeline in New Brunswick. As of December 31, 2020, its electric utilities served approximately 792,500 customers in West Central Florida; 529,000 customers in Nova Scotia; 131,000 customers in the island of Barbados; 19,000 customers in the Grand Bahama Island; and 34,000 customers in the island of Dominica, as well as gas utilities and infrastructure, served approximately 426,000 customers across Florida and 540,000 customers in New Mexico. Emera was incorporated in 1998 and is headquartered in Halifax, Canada.
Record on the table as of March 7, 2021.
| S.N. | Emera Incorporated (TSE: EMA) | |
| 1 | Share Value | CA$51.43 |
| 2 | Market Capitalization | CA$12.93 billion |
| 3 | Dividend Yield | 4.98% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Hold, Buy – 2.57 |
| 6 | Consensus Price Target | CA$60.11 |
| 7 | Price Target Upside | 16.88 Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$2.86 |
| 9 | P/E Ratio | 13.61 |
8. Shopify Inc. Stock (TSE: SHOP)
Shopify Inc. provides a cloud-based multichannel commerce platform for small and medium-sized businesses in Canada, the United States of America, Australia, and Internationally. It provides Web and mobile storefronts, physical retail locations, social media storefronts, and market places.
The company was formerly known as Jaded Pixel Technologies Inc. and was founded in 2004. Its name changed to Shopify Inc in November 2011 and it is headquartered in Ottawa, Canada.
Record on the table as of March 7, 2021.
| S.N. | Shopify Inc. (TSE: SHOP) | |
| 1 | Share Value | CA$1,431.80 |
| 2 | Market Capitalization | CA$175.71 billion |
| 3 | Dividend Yield | N.A. |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Buy – 3.00 |
| 6 | Consensus Price Target | CA$1,835.00 |
| 7 | Price Target Upside | 28.16 Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | N.A. |
| 9 | P/E Ratio | 552.82 |
9. Royal Bank of Canada Stock (TSE: RY)
Royal Bank of Canada operates as a diversified financial service company worldwide. The company’s Personal & Commercial Banking segment offers financial products and services through branches, automated teller machines, and a mobile sales network.
Its Wealth Management segment provides a suite of advice-based solutions and strategies to high net worth and ultra-high net worth individuals, and institutional clients. The company’s Insurance segment offers life, health, home, auto, travel, wealth, annuities, and reinsurance advice and solutions; and creditor and business insurance services to individual, business, and group clients.
Its Investor & Treasury Services segment provides asset, cash management, transaction banking, and treasury services to institutional clients; correspondent banking and trade finance services for financial institutions; and short-term funding and liquidity management services.
The company’s Capital Markets segment offers corporate and investment banking, as well as equity and debt origination, distribution, sale, and trading services for corporations, institutional investors, asset managers, governments, and central banks.
Royal Bank of Canada has a strategic partnership with the Royal College of Physicians & Surgeons of Canada to support the needs of Canada’s medical specialists. The company was founded in 1864 and is headquartered in Toronto, Canada.
Record on the table as of March 7, 2021.
| S.N. | Royal Bank of Canada (TSE: RY) | |
| 1 | Share Value | CA$112.57 |
| 2 | Market Capitalization | CA$160.40 billion |
| 3 | Dividend Yield | 3.93% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Hold, Buy – 2.71 |
| 6 | Consensus Price Target | CA$115.91 |
| 7 | Price Target Upside | 2.96% Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$9.28 |
| 9 | P/E Ratio | 13.94 |
10. Savaria Corporation Stock (TSE: SIS)
Savaria Corporation designs, engineers, and manufactures products for personal mobility in Canada, the United States, and internationally. The company operates in three segments: Accessibility, Adapted Vehicles, and Patient Handling.
The Accessibility segment designs, manufacture, distributes, and installs accessibility products, such as stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts, and elevators for home and commercial use.
The Adapted Vehicles segment designs and builds lowered floor wheelchair accessible conversions for minivans. The Patient Handling segment manufactures and distributes therapeutic support surfaces, patient positioners, mattress overlays, and wheelchair cushions for the medical market; mattress pads and pillows for the consumer market; other foam products for the industrial market; and patient transfer slings and accessories.
The company sells its products through dealers and retailers. Savaria Corporation was founded in 1979 and is headquartered in Laval, Canada
Record on the table as of March 7, 2021.
| S.N. | Savaria Corporation (TSE: SIS) | |
| 1 | Share Value | CA$17.56 |
| 2 | Market Capitalization | CA$894.61 million |
| 3 | Dividend Yield | 2.81% |
| 4 | Dividend Date | Dividend payable quarterly |
| 5 | Consensus Rating | Buy – 3.00 |
| 6 | Consensus Price Target | CA$17.75 |
| 7 | Price Target Upside | 1.08% Upside |
| 8 | 2021 Earnings Per Share Consensus Estimate | CA$0.65 |
| 9 | P/E Ratio | 31.64 |
Conclusion
These stocks are some of the best options available to Canadian investors who are keen to make a profit in the short term or the long haul. The essence of this article is to guide and pitch potential stocks to investors however, the decision to invest in a particular stock is ultimately that of the investor. We highly recommend further research on stocks that may interest investors.
