3 Stocks That Look Worth Adding More of at This Moment

After a strong recovery in recent weeks, Canadian equity markets have turned volatile again, driven by stalled peace talks between the United States and Iran and ongoing uncertainty around a potential ceasefire. In this environment of heightened unpredictability, investors would be wise to focus on high-quality stocks with well-established businesses that can better withstand market fluctuations.

With that in mind, here are my three top stock picks.

Fortis

Fortis (TSX:FTS) is one of the top stocks I’m bullish on in this uncertain environment, supported by its regulated asset base and essential service offerings. The utility serves approximately 3.5 million customers across Canada, the United States, and the Caribbean, supplying electricity and natural gas. With about 93% of its assets tied to low-risk transmission and distribution operations, its financial performance remains largely insulated from economic cycles and commodity price volatility.

In addition to its stable earnings profile, Fortis has benefited from a steadily expanding rate base, which has supported both financial growth and share price appreciation. Over the past two decades, the company has delivered an average annual shareholder return of 10.42%. It has also demonstrated exceptional dividend consistency, increasing its payout for 52 consecutive years and currently offering a forward yield of around 3.35%.

Looking ahead, Fortis continues to invest in its infrastructure to meet rising energy demand. The company plans to invest $28.8 billion through 2030, targeting a 7% annualized growth in its rate base to $57.9 billion. Supported by these growth initiatives, management expects to raise dividends by 4–6% annually through 2030.

Given its predictable earnings, long history of dividend growth, and clear expansion roadmap, Fortis stands out as a reliable investment option in today’s volatile market environment.

Northland Power

Northland Power (TSX:NPI) is another stock I’m bullish on in the current environment, supported by its diversified portfolio of energy infrastructure assets with a gross generating capacity of around 3.5 gigawatts. The company sells most of its power under long-term power-purchase agreements (PPAs), with about 95% of its revenue derived from these contracts, making its financials relatively resilient to market fluctuations.

Northland Power also delivered a strong fourth-quarter performance in February. Its revenue and adjusted earnings before interest, taxes, depreciation, and amortization rose by 26.4% and 24.8%, respectively, while free cash flow increased 50.5% year over year to $121.4 million. The company’s balance sheet remains healthy, with $931 million in liquidity.

Looking ahead, Northland Power is well-positioned to benefit from the global transition toward cleaner energy. It plans to invest between $5.8 billion and $6.6 billion over the next five years to expand its generating capacity to seven gigawatts by 2030. In addition, ongoing cost-optimization initiatives could deliver approximately $50 million in annual savings starting in 2028.

The company also offers a steady income stream, paying a monthly dividend of $0.06 per share, which translates to a forward yield of about 3.28%. Considering its stable revenue model, strong financial performance, and promising growth pipeline, Northland Power appears to be a compelling investment in today’s uncertain market environment.

Canadian Natural Resources

Amid ongoing geopolitical tensions in the Middle East, oil and natural gas prices have risen, and any prolonged uncertainty in peace negotiations could sustain elevated prices—benefiting energy producers. Against this backdrop, Canadian Natural Resources (TSX:CNQ) stands out as a compelling option. The company operates primarily in Western Canada, the North Sea, and Offshore Africa, and benefits from a large base of low-risk reserves that require relatively modest reinvestment. Combined with efficient operations, the company maintains a low-cost structure, generating strong margins and cash flows.

Supported by these robust cash flows, CNQ has increased its dividend at an annualized rate of over 20% for 26 consecutive years and currently offers a forward yield of about 4.13%. The company also plans to invest approximately $6.88 billion in capital expenditures this year to support production growth. In addition, it holds proven reserves of roughly five billion barrels of oil equivalent, with a reserve life index of 32 years.

Given the supportive commodity price environment and a solid growth outlook, CNQ appears well-positioned to deliver strong returns, making it an attractive investment opportunity right now.

The post 3 Stocks That Look Worth Adding More of at This Moment appeared first on The Motley Fool Canada.

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More reading

• 5 Stocks to Hold for the Next Decade
• 4 Dividend Stocks I’d Happily Double My Position in Today
• The Canadian Energy Dividend Stocks Worth Watching Right Now
• 3 TSX Stocks to Buy for a Set-It-and-Forget-It TFSA
• 3 Dividend Stocks That Offer Meaningful Growth Potential as Well

Fool contributor Rajiv Nanjapla 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.