Top Canadian Stock to Buy Right Now With $7,000

Top Canadian Stock to Buy Right Now With $7,000: Fortis Inc. (TSX: FTS)

Fortis Inc. (TSX: FTS) is one of Canada’s most reliable utility companies, offering stable dividends and consistent growth. The company operates electric and gas utilities across Canada, the U.S., and the Caribbean, providing essential services to millions of customers. Fortis has built a strong reputation as a defensive stock, making it a top pick for investors seeking long-term stability.

Unlike high-volatility stocks, Fortis benefits from predictable revenue streams through regulated utility operations, ensuring steady cash flow and dependable dividend growth. With a nearly 50-year track record of consecutive dividend increases, Fortis is a dividend aristocrat that stands out in any market environment.

The company’s five-year capital investment plan of $25 billion is expected to drive sustained earnings growth. This includes investments in clean energy, grid modernization, and infrastructure upgrades to support long-term expansion. Given its reliable performance and consistent returns, Fortis is an excellent buy-and-hold stock for investors looking to maximize tax-free gains in a TFSA or build passive income in an RRSP.

Stock Performance Analysis: Fortis Inc. (TSX: FTS)

Metric	Value
1-Year Stock Growth	+7.8%
Revenue (2024)	$12.6B
Market Cap	$59.89B
Trailing P/E	14.17x
Forward P/E	9.90x
Price/Book Ratio	1.15x
Enterprise Value/Revenue	11.76x

📌 Fortis has consistently delivered stable returns, making it one of the most defensive stocks on the TSX. Its steady growth, strong dividend yield, and low volatility make it an attractive investment for conservative investors.

📌 Fortis (TSX: FTS) remains a top utility stock, maintaining a steady upward trend while offering a reliable dividend yield.

Peers Comparison: Fortis Inc. (TSX: FTS)

Code	Name	GicSector	MarketCap	Beta	52WeekHigH	52WeekLow	50DayMA	200DayMA	SHaresSHort	SHortRatio	SHortPercent
FTS	Fortis Inc	Utilities	32.29B	0.237	65.26	49.01	62.04	59.69	7,997,901	3.40	0.0119
H	Hydro One Ltd	Utilities	28.89B	0.351	48.31	36.73	45.19	44.09	3,797,929	3.96	0.0335
BEP-UN	Brookfield Renewable Partners L.P	Utilities	20.40B	0.919	40.84	27.00	31.78	34.29	593,488	1.45	0.0026
BIP-UN	Brookfield Infrastructure Partners L.P	Utilities	18.58B	1.090	49.31	32.63	45.65	44.71	449,604	1.30	0.0029
EMA	Emera Inc.	Utilities	17.60B	0.318	59.88	42.32	55.80	51.79	5,358,249	2.98	0.0389
BEPC	Brookfield Renewable Corp	Utilities	7.27B	1.170	48.28	28.80	38.89	40.75	1,229,659	2.73	0.0128
CU	Canadian Utilities Limited	Utilities	7.24B	0.650	36.48	27.80	34.30	33.82	2,158,125	4.37	0.0461
CPX	Capital Power Corporation	Utilities	6.65B	0.595	68.04	32.61	54.31	50.48	2,341,574	2.32	0.0111
BIPC	Brookfield Infrastructure Corp	Utilities	5.93B	1.448	63.52	38.79	57.62	55.37	643,855	4.72	0.0154
AQN	Algonquin Power & Utilities Corp	Utilities	5.60B	0.561	8.79	6.03	6.63	7.20	17,417,772	7.68	0.0166

📌 Fortis Inc. (TSX: FTS) is a leader in the Canadian utilities sector, competing with other major players like Hydro One and Brookfield Renewable Partners. Its strong market cap and stability make it a top choice for dividend investors.

Valuation Measures: Fortis Inc. (TSX: FTS)

Metric	Current	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023
Market Cap	22.47B	20.78B	22.62B	19.13B	19.42B	20.12B
Enterprise Value	46.90B	43.60B	46.87B	42.50B	42.25B	43.72B
Trailing P/E	20.12	18.47	19.25	17.00	17.32	17.61
Forward P/E	19.30	17.61	18.42	16.58	16.72	17.21
Price/Sales	2.81	2.57	2.64	2.30	2.27	2.23
Price/Book	1.47	1.43	1.45	1.28	1.33	1.33
Enterprise Value/Revenue	5.86	5.47	5.56	5.14	4.98	4.90
Enterprise Value/EBITDA	12.24	11.50	11.83	11.13	11.15	11.46

📌 Fortis Inc. (TSX: FTS) continues to showcase strong financial stability, with consistent enterprise value growth and solid P/E ratios. Its steady valuation highlights its appeal as a reliable long-term investment in the utility sector.

Final Thoughts

Fortis Inc. (TSX: FTS) remains one of the best Canadian stocks for long-term investors seeking stability, dividend growth, and defensive exposure.

For investors looking for:

✅ A reliable, recession-proof stock with consistent returns

✅ A high-yield dividend payer with nearly 50 years of consecutive increases

✅ A top-performing utility company with strong earnings and revenue growth

✅ A stock that thrives in all market conditions

Fortis Inc. is a buy-and-hold stock that can provide stable, long-term growth, making it a top choice for a TFSA or RRSP portfolio.

📌 For investors with $7,000 to invest, Fortis is one of the safest and most reliable options on the TSX.