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.