2 Stocks That Could Turn $100,000 Into $1 Million

Average onlookers will see it as absolutely ridiculous to turn $100,000 into $1 million through stock investing. However, what they perceive as pure fantasy happens in reality. The truth is, a million-dollar portfolio is achievable with only two stocks and a well-defined investment strategy.   

An income-and-growth investing strategy should help accelerate the accumulation of capital to a seven-figure fortune. The approach combines rock-solid dividend income for reinvestment with exponential capital growth.

Enbridge (TSX:ENB) and Hammond Power Solutions (TSX:HPS.A) are two powerful levers that could work in tandem. In a 50/50 allocation ($50,000 each), the former provides a defensive cash cushion, while the latter increases capital through price appreciation during market upswings.   

Income compounder

Enbridge is not only a defensive anchor but also the ultimate income compounder. At $76.13 per share (+19% year to date), the dividend yield is 5.1%. A $50,000 position will grow to $177,347.40 in 25 years, including dividend reinvesting (quarterly). The final balance is based on a flat price and constant-yield assumption.

ENB, a large-cap stock, has recorded 31 consecutive years of dividend increases. The $166.2 billion energy infrastructure company operates a vast crude oil and liquids transportation system and an expansive natural gas utility network across North America.

About 95% of the company’s cash flows come from long-term contracts or are under regulated rate structures. The setup insulates the business from volatile commodity prices. Four core franchises form the diversified business mix.

All segments, from Gas Transmission and Liquids Pipelines to Gas Distribution & Storage and Renewable Power, have visible growth potential. The total opportunities through 2030 are around $50 billion.

In the first quarter (Q1) of 2026, Adjusted earnings declined 5% year over year to $2.1 billion, while distributable cash flow (DCF) increased 2% to $3.8 billion from a year ago. According to Greg Ebel, president and CEO of Enbridge, the global energy sector experienced the most volatile and complex conditions in the past several months. He said Enbridge’s secured capital backlog stands at $40 billion, and will actively advance approximately $50 billion of unsanctioned opportunities.

Millionaire maker

Given its performance, Hammond Power Solutions is a millionaire maker. As a backdrop, the industrial stock is a back-to-back TSX30 winner, the annual ranking of Canada’s 30 top-performing stocks. It ranked first in 2024 and placed third in 2025.

HPS.A trades at $336.69, up 111.43% year to date with a total five-year return of +3,469.46%. Assuming the historic performance repeats, the initial $50,000 investment will be over $1.7 million in only five years. Past performance is never a guarantee of future returns, but the multi-decade tailwinds for the business are strong.   

The $4 billion company manufactures dry-type transformers and power-quality products essential to electrical equipment and systems. In addition to surging demand for dry-type transformers, the growth drivers include the buildout of data centres & AI and grid modernization. Hammond Power achieved record quarterly sales of $265 million in Q1 2026, supported by a 4.1% backlog growth from year-end 2025.

Financial engine

Dividing $100,000 evenly between Enbridge and Hammond Power is a good start to $1 million. The timeline might take longer, but you have a balanced financial engine throughout the wealth-building journey.

The post 2 Stocks That Could Turn $100,000 Into $1 Million appeared first on The Motley Fool Canada.

Should you invest $1,000 in Enbridge right now?

Before you buy stock in Enbridge, consider this:

The Motley Fool Canada team has identified what they believe are the top 10 TSX stocks for 2026… and Enbridge wasn’t one of them. The 10 stocks that made the cut could potentially produce monster returns in the coming years.

Consider MercadoLibre, which we first recommended on January 8, 2014 … if you invested $1,000 in the “eBay of Latin America” at the time of our recommendation, you’d have over $18,000!*

Now, it’s worth noting Stock Advisor Canada’s total average return is 94%* – a market-crushing outperformance compared to 85%* for the S&P/TSX Composite Index. Don’t miss out on our top 10 stocks, available when you join our mailing list!

Get the 10 stocks instantly #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

* Returns as of April 20th, 2026

More reading

• Top Canadian Stocks to Buy Right Away With $2,000
• A Canadian Dividend Stock I’d Hold Through Anything
• A TFSA Strategy to Follow Heading Into the Rest of 2026
• How to Build a 2026 TFSA Strategy That Generates Monthly Cash
• Got $21,000? A Dividend Stock Worth Buying in a TFSA

Fool contributor Christopher Liew has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Hammond Power Solutions. The Motley Fool recommends Enbridge. The Motley Fool has a disclosure policy.