Top 25 TSX stocks to buy in 2022

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Top 25 TSX stocks to buy in 2022

 Top 25 TSX stocks to buy in 2022
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Highlights

  • Stock markets have been facing significant ups and downs amid the rising cases of COVID-19 and the reintroduction of lockdown measures in 2022.
  • These have been sending the stock prices of many companies deep into the red zone.
  • With more investors looking for quality stock options to explore in 2022, let us glance through the top 25 stocks of the TSX.

The pandemic has already started leaving its mark on year 2022, thanks to the omicron variant. Stock markets have been facing significant ups and downs amid the rising cases of COVID-19 and the reintroduction of lockdown measures, sending the stock prices of many companies deep into the red zone.

Hence, with more investors looking for quality stock options to explore in 2022, let us glance through the top 25 stocks of the TSX.

  1. Royal Bank of Canada (TSX: RY)

One of Canada’s largest lenders, the Royal Bank of Canada (RBC) saw its profit surge by 40 per cent year-over-year (YoY) to C$ 16.1 billion in FY2021.

With a market capitalization of C$ 201 billion (as on Wednesday, January 26), RBC is the largest company listed on the TSX.

RBC’s quarter-based dividend of C$ 1.2 apiece, which has grown by 6.3 per cent in the past five years, is set to paid on February 24 to shareholders.

Also read: TD & CIBC (TSX: CM) report Q4 profit, hike dividends: Buy call?

  1. Toronto-Dominion Bank (TSX: TD)

The Toronto-Dominion Bank, also one of the biggest banks in Canada, earned a profit of about C$ 14.29 billion in FY2021, as against that of C$ 11.89 million a year ago.

Its adjusted net income, which amounted to C$ 3.9 billion, was up 30 per cent YoY in Q4 FY2021.

TD Bank held a market cap of C$ 182.6 billion on January 26.

Q4 FY21 financials of Royal Bank of Canada and Toronto-Dominion Bank

Image credit: © 2022 Kalkine Media®

  1. Bank of Nova Scotia (TSX: BNS)

Like other major banks in the country, Scotiabank too saw its profit surge to xx on a year-over-year (YoY) basis in the fourth fiscal quarter last year.

Scotiabank’s market cap stood at C$ 109.99 billion on January 26. Its quarterly dividend, which presently stands at C$ 1 per share, was also scheduled for payment on the same day.

  1. Canadian National Railway Co (TSX: CNR)

The Canadian railway company, which provides transportation services and a railroad system across North America, saw its market cap stand at C$ 106.4 billion on January 26.

The Montreal-based firm recently reported a topline of C$ 3.75 billion for the fourth fiscal quarter of 2021.

  1. Enbridge Inc (TSX: ENB)

A major Canadian energy distributor, Enbridge Inc’s pipeline network and operation spans across North America. Its market cap stood at C$ 105.9 billion on January 26.

Enbridge Inc is scheduled to doll out its dividend of C$ 0.86, which it pays on a quarterly basis, on March 1.

  1. Bank of Montreal (TSX: BMO)

BMO’s profit climbed 36 per cent YoY to C$ 2.15 billion in the fourth fiscal quarter of 2021. On a yearly basis, on the other hand, its net income was up by 52 per cent YoY to C$ 7.75 billion in FY2021.

The bank, as on January 26, noted a market cap of C$ 94.8 billion.

  1. Canadian Natural Resources Ltd (TSX: CNQ)

The Calgary, Alberta-based energy giant, which is known to produce crude oil, natural gas liquids, etc., distributed a dividend of C$ 0.58 on January 5.

On January 26, Canadian Natural’s market cap stood at C$ 75.4 billion.

  1. Canadian Imperial Bank of Commerce (TSX: CM)

The C$ 72.6-billion market cap bank noted a profit of C$ 1.44 billion in the fourth fiscal quarter of FY2021, which was up from C$ 1.01 billion a year ago.

The CIBC’s quarterly dividend, which currently amounts to C$ 1.61 apiece, is expected to be distributed on January 28.

  1. Thomson Reuters Corp (TSX: TRI)

Thomson Reuters, a media and communication giant, is known to offer its services across multiple industries, including news, law, government, etc.

The Toronto, Ontario-based media firm held a market cap of C$ 64.6 billion on January 26.

  1. TC Energy Corp (TSX: TRP)

TC Energy, a Canadian energy transmission and power generation company, recorded a bottomline of C$ 779 million in Q3 2021.

The energy company held a market cap of C$ 62.8 billion on January 26.

Also Read: Suncor (TSX:SU) & TC Energy (TSX:TRP): 2 oil & gas stocks to buy now

  1. Canadian Pacific Railway Ltd (TSX: CP)

Canadian Pacific Railway, also a transcontinental railroad network that delivers freight, logistic and supply chain solutions in North America, is set to pay a dividend of C$ 0.19 on January 31.

The railway company held a market cap of C$ 62.3 billion on January 26.

  1. BCE Inc (TSX: BCE)

The Verdun, Quebec-based communications and mass media enterprise has a history that goes as far back as the 1880s, when it was first known as the Bell Telephone Company of Canada.

BCE Inc is presently known to offer communication solutions in the fields of television, digital media and wireless services.

The telecom giant held a market cap of C$ 59.2 billion on January 26.

  1. Alimentation Couche-Tard Inc (TSX: ATD)

The Canadian convenience store operator is known to function in many regions across the world. It offers a wide range of goods in its stores, including groceries, fresh produce, beverages, tobacco-based products, etc.

Alimentation Couche-Tard, as on January 26, had a market cap of C$ 51.7 billion.

  1. Suncor Energy Inc (TSX: SU)

Known to be a giant in the Canadian space of oil and gas production, Suncor Energy’s market cap was C$ 51.5 billion on January 26.

The Calgary, Alberta-based energy producer, which has been in business since 1917, is popularly known to explore fossil fuels like crude oil and natural gas. It has been, however, looking into clean energy resources such as wind electricity, biofuel, etc., as well.

  1. Nutrien Ltd (TSX: NTR)

The Canada-based fertilizer giant came into being after businesses Agrium and PotashCorp combined in 2018.

Nutrien Ltd, which is known to provide cultivation-related goods and services, has its base in Saskatoon, Canada, but operates across North and South Americas, Asia, Australia, etc.

Nutrien’s market cap was C$ 50.6 billion on January 26.

  1. Manulife Financial Corp (TSX: MFC)

The Toronto-based insurance giant, originally established as Manufacturers Life Insurance Company in 1887, caters to clients across Europe, Asia, the US, etc.

Manulife Financial, which only got its present name in 1990, had a market cap of C$ 49.9 billion on January 26.

Best TSX stocks for 2022

  1. Constellation Software Inc (TSX: CSU)

Constellation Software, a Canadian software services provider, caters to the needs of market leaders across different industries in the public as well as the private sectors.

Headquartered in Toronto, Ontario, the tech player manages businesses across in North America, Europe, Australia, among others.

It noted a market cap of C$ 43.8 billion on January 26.

  1. Barrick Gold Corp (TSX: ABX)

Now a major gold and copper miner based in Canada’s Toronto region, Barrick Gold Corporation was first established in the 1980s.

With operations around the world, the gold explorer posted a market capitalization of C$ 42.9 billion as on January 26.

  1. Sun Life Financial Inc (TSX: SLF)

Also one of the top financial services providers in Canada, Sun Life Financial Inc caters to the insurance and wealth product-related needs of its clients in in Canada, the US, Asia, the UK, etc.

The Canadian insurance giant closed trading at a market cap of C$ 41.1 billion on January 26.

  1. Waste Connections Inc (TSX: WCN)

The Canadian solid waste management solutions provider is known to provide its services, which include waste collection, recycling and disposal, across Canadian provinces and many states across the US.

Waste Connections Inc, as on January 26, had a market cap of C$ 40.4 billion.

  1. Telus Corp (TSX: T)

Telus Corporation is known to be a juggernaut in the Canadian telecommunication space. Through its many subsidiaries, Telus provides services in the arenas of wireless connectivity, wireline connectivity, mobility, healthcare, agriculture, etc.

The Vancouver-headquartered company reported a bottomline of C$ 358 million in Q3 FY2021 and doled out a quarterly dividend of C$ 0.327 on January 4.

Its market cap was C$ 37.7 billion on January 26.

  1. Cenovus Energy Inc (TSX: CVE)

The integrated energy company, which delves in the business of producing crude oil and natural gas in Canada, posted a cash of C$ 2.1 billion from its operating activities and adjusted funds flow of C$ 2.3 billion in Q3 FY21.

Cenovus Energy Inc’s market cap stood at over C$ 37 billion on January 26.

  1. Imperial Oil Ltd (TSX: IMO)

Imperial Oil Limited, also a Canadian integrated energy company, is known to be among the biggest oil refiners in the nation.

Founded in 1880, the oil and gas enterprise now holds an assortment of oil sands assets, refineries, producing wells, etc. in its portfolio.

Its market cap was C$ 36.2 billion on January 26.

Also read: 5 best TSX value stocks to buy in 2022 

  1. Great-West Lifeco Inc (TSX: GWO)

An insurance giant and financial holding company, Great-West Lifeco noted a market cap of C$ 36.2 billion on January 26.

The Winnipeg, Manitoba-based enterprise offers a wide range of finance-related solutions ranging from life and health insurances, retirement savings options, asset management, etc.

In Q3 FY2021, Great-West Lifeco reported net earnings of C$ 872 million.

  1. National Bank of Canada (TSX: NA)

One of the biggest lenders in Canada, National Bank saw its profit surge to C$ 3.18 billion in 2021. In the fourth quarter of fiscal 2021, its bottomline was up by 58 per cent YoY to C$ 776 million.

National Bank’s market was C$ 33.8 billion on January 26.

Bottomline

Stock markets are consistently exposed to volatility posed by certain major events, such as economic changes, government policies and, of course, healthcare-related events like a pandemic.

Hence, stock market investors should ideally be in constant touch with market trends to not only avoid losses, but also to access the best possible deals.

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