3 Must-Own TSX Stocks Critical to Carney’s Major Project Agenda

Nation-building through major infrastructure projects is a central pillar of Canadian Prime Minister Mark Carney’s agenda in 2026. The federal government wants to fast-track transformative infrastructure and development initiatives to strengthen the country’s economy and position on the global stage.

The success of the PM’s agenda will depend heavily on the active participation and support of Canadian companies. Pembina Pipeline (TSX:PPL), Cameco Corporation (TSX:CCO), and Nouveau Monde Graphite (TSX:NOU) are among the domestic companies well-positioned to contribute in the areas of energy infrastructure, nuclear power supply, and critical minerals development. They are must-own TSX stocks to start 2026.

Energy infrastructure

Pembina Pipeline has been regarded as a reliable source of passive income. At $51.69 per share, the dividend yield is 5.5%. This dividend titan has never missed a dividend payment since Q4 2010. If you invest today, the payout frequency is quarterly.

The $30 billion company owns and operates conventional pipeline systems, including the Peace Pipeline. This multi-phase pipeline system transports natural gas liquids (NGLs), crude oil, and condensate from production areas to processing hubs in North America. Expansion is underway to meet the growing demand for propane and ethane.

Pembina expects to play a vital role in reshaping Canada’s energy strategy and unlocking the country’s abundant and diverse energy resources. Among its near-term plans are developing new energy projects and ensuring the resilience of made-in-Canada supply chains.

Nuclear energy

Cameco is the top-of-mind choice if you want a pure-play investment in nuclear energy. The $55.5 billion company provides nuclear fuel and nuclear power products, services, and technologies. Performance-wise, this large-cap stock is among the top performers in the energy sector this year.

At $127.48 per share, the year-to-date gain is 72.8%. CCO has rewarded investors with a hefty 320.7% overall return in the last three years. Management strongly believes that heightened interest in nuclear power will durably strengthen the uranium industry’s long-term fundamentals.

The world needs nuclear power to achieve a net-zero future. Cameco wants to be a strategic partner in that journey. Its operations cover the entire nuclear fuel cycle, from exploration to fuel services, as well as uranium production. Expect Cameco to aid Canada’s nation-building initiatives by supplying crucial uranium for clean energy.

Critical minerals

Nouveau Monde Graphite is North America’s largest fully integrated, carbon-neutral graphite producer. The $583.5 million company supplies critical materials for electric vehicles (EVs), energy storage, and technology. At $3.63 per share, the trailing one-year price return is plus-56.5%.

On November 13, 2025, Nouveau’s Matawinie Mine in Saint-Michel-des-Saints, Quebec was referred to the federal government’s Major Projects Office (MPO). According to management, the flagship graphite property is the mine of the future. It has a mine life of 25 years.

Under Canada’s strategy, the mine will become a powerhouse in the extraction and upgrading of critical minerals, including graphite, tungsten, copper, lithium, nickel, and cobalt. Construction of the Matawinie Mine will begin in Q1 2026, with production commencing by mid-2028. It will also create over 1,000 new jobs.

Strategic roles

Canadians have compelling reasons to consider investing in Pembina Pipeline, Cameco, and Nouveau Monde. The companies have strategic roles to play in Canada’s long-term growth and sustainability strategy.

The post 3 Must-Own TSX Stocks Critical to Carney’s Major Project Agenda appeared first on The Motley Fool Canada.

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* Returns as of November 17th, 2025

More reading

• Why These 3 Canadian Stocks Have a Serious Advantage Over Global Markets in 2026
• The Millionaires’ Portfolios: Here’s What the Pros Are Buying Right Now
• A Dividend Giant I’d Buy Over Telus Stock Right Now
• 3 Dividend Stocks Yielding at Least 5% for Practically Free Monthly Income
• Got $5,000 to Invest? Put it to Work in 3 TFSA-Worthy Blue Chips (and Then Do Nothing for Decades)

Fool contributor Christopher Liew has no position in any of the stocks mentioned. The Motley Fool recommends Cameco and Pembina Pipeline. The Motley Fool has a disclosure policy.