3 Stocks to Double Up on Right Now

If you’re looking to double up your portfolio with TSX stocks that have the potential to deliver outstanding returns in the long run, I’ve got three top stocks that are worth considering right now. These companies aren’t just riding the momentum of short-term gains but also offer strong fundamentals and long-term growth prospects.

Each one is an amazing stock that could double your investment in the years to come. Let’s take a closer look at what makes these stocks worth considering right now.

Enbridge stock

Let me start with Enbridge (TSX:ENB), a Canadian energy giant that mainly focuses on oil and gas transportation through pipelines. This Calgary-based company has operations across North America and is known for its reliable dividends. After rallying by 19% over the last year, ENB stock currently trades at $75.29 per share with a market cap of $164 billion. At this market price, it offers a dividend yield of 5.2% with quarterly payouts.

In 2025, Enbridge’s adjusted earnings climbed 9% YoY (year over year) to $6.6 billion, while its adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 7% to $20 billion. Encouraged by these strong results, the company now expects an adjusted EBITDA of between $20.2 billion and $20.8 billion in 2026. ENB also increased its quarterly dividend by 3% to $0.97 per share.

In addition to strong fundamentals, Enbridge is investing in its oil export and renewable energy sectors. These long-term initiatives could accelerate its financial growth trends further, making this stock a great pick for long-term investors.

Canadian Natural Resources stock

Next up is Canadian Natural Resources (TSX:CNQ), one of the largest energy producers in Canada with operations across Western Canada, the U.K. North Sea, and Offshore Africa. This Calgary-based company mainly focuses on crude oil and natural gas production through its mining and upgrading segment.

After rallying by 53% over the last year, CNQ stock currently trades at $68 per share with a market cap of $142.2 billion. At this market price, it offers a quarterly dividend with an annualized yield of 3.7%.

In its latest earnings report, Canadian Natural posted record production and strong financial growth trends for the year ended December 2025. The company’s adjusted net earnings jumped to $7.4 billion, while adjusted funds flow hit $15.5 billion. These gains came from a combination of organic growth and accretive acquisitions.

Canadian Natural recently also increased its production guidance for 2026, which is expected to be backed by improved performance and recent acquisitions. With a strong balance sheet, the company is investing heavily in low-decline assets with a focus on thermal in situ production and natural gas. These initiatives are expected to drive long-term growth and make this stock even more attractive for investors looking beyond short-term gains.

Baytex Energy stock

Rounding out my list of top stocks to double up right now is Baytex Energy (TSX:BTE), a Calgary-based energy firm with operations in the Western Canadian Sedimentary Basin. This company mainly focuses on oil and natural gas production through its light oil and heavy oil assets.

After rallying by 76% over the last year, BTE stock currently trades at $5.78 per share with a market cap of $4.4 billion. At this market price, it offers a quarterly dividend with an annualized yield of 1.6%.

In its latest earnings report, Baytex Energy reported strong production growth and cash flow for the year ended December 2025. The company’s heavy oil operations in Alberta and Saskatchewan are expected to support over 12 years of development, while its Pembina Duvernay assets are set to boost production by 35% this year.

In addition to production growth, Baytex Energy plans to maintain its current dividend while prioritizing share buybacks. These initiatives are expected to boost investor confidence and make this stock even more attractive for long-term investors.

The post 3 Stocks to Double Up on Right Now appeared first on The Motley Fool Canada.

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More reading

• Your 2026 TFSA Game Plan: How to Turn the Contribution Room Into Monthly Cash
• My 5 Favourite Dividend Stocks to Buy Right Now
• 2 Dividend Stocks Every Income Investor Should Own
• 2 TFSA Dividend Stocks Worth Locking in for Decades of Income
• 4 Dividend Stocks to Double Up on Right Now

Fool contributor Jitendra Parashar has positions in Canadian Natural Resources and Enbridge. The Motley Fool recommends Canadian Natural Resources and Enbridge. The Motley Fool has a disclosure policy.