In this article, we will take a look at the 5 best TSX stocks to buy right now. For a detailed analysis of these stocks, go directly to 10 Best TSX Stocks to Buy Right Now.
5. Enbridge Inc. (TSX: ENB.TO)
Enbridge Inc. (TSX: ENB.TO) is a Calgary-based energy transportation firm. It owns and operates oil pipelines, gas distribution and storage systems, and has wind, solar, geothermal, and waste heat recovery facilities. Enbridge was founded in 1949 and is ranked fifth on our list of 10 best TSX stocks to buy right now. The company has operations in North America and Europe. Enbridge stock has offered investors more than 24% returns in the past twelve months as business took a hit due to the COVID-19 pandemic.
On March 16, Enbridge Inc. (TSX: ENB.TO) warned that shutting down an energy pipeline between Michigan and Canada would trigger job losses and economic crisis for the area. Michigan had earlier accused Enbridge of violating a lease agreement for the pipeline. Dallas-based Energy Transfer LP (NYSE: ET) is a similar investment to Enbridge. Out of the hedge funds being tracked by Insider Monkey, Appaloosa Management LP is a leading shareholder in Energy Transfer LP (NYSE: ET) with shares worth more than $148 million.
4. Brookfield Property Partners L.P. (TSX: BPY-UN.TO)
Brookfield Property Partners L.P. (TSX: BPY-UN.TO) is a Bermuda-based real estate company with extensive and diverse business interests. It was founded in 2013 and is ranked fourth on our list of 10 best TSX stocks to buy right now. It is one of the largest real estate firms with $88 billions in assets under management. The firm has stakes in office, retail, multifamily, logistics, hospitality, self-storage, and student housing, among others. Brookfield stock has returned more than 90% to investors over the past year.
On April 1, Brookfield Property Partners L.P. (TSX: BPY-UN.TO) announced that it had reached an agreement with Brookfield Asset Management Inc. (NYSE: BAM) for sale of all limited partnership units to the latter for $6.5 billion. Brookfield Asset Management is also a premier real estate firm. At the end of the fourth quarter of 2020, 38 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Brookfield Asset Management Inc. (NYSE: BAM), up from 36 the preceding quarter worth $1.08 billion.
3. Spin Master Corp. (TSX: TOY.TO)
Spin Master Corp. (TSX: TOY.TO) is a Toronto-based toy and entertainment company. It is ranked third on our list of 10 best TSX stocks to buy right now and was founded in 1994. Some of the famous brands it owns include Bakugan, Gund, Etch A Sketch, Erector Set, Air Hogs, PAW Patrol, and Aquadoodle, among others. Spin Master has returned more than 150% to investors over the course of the past twelve months. The company has a market cap of more than $3.5 billion and posted more than $1.5 billion in revenue in 2020.
On May 1, Spin Master Corp. (TSX: TOY.TO) disclosed quarterly results for the first three months of 2021, posting a revenue of $316 million, a 39% increase compared to the previous year. Mattel, Inc. (NASDAQ: MAT), a California-based toy manufacturing firm, is also a good bet in the entertainment sector. Out of the hedge funds being tracked by Insider Monkey, investment firm Southeastern Asset Management is a leading shareholder in Mattel, Inc. (NASDAQ: MAT) with shares worth more than $303 million.
2. Magna International Inc. (TSX: MG.TO)
Magna International Inc. (TSX: MG.TO) is an Aurora-based mobility technology company that primarily deals with car manufacturing firms. It was founded in 1957 and is ranked second on our list of 10 best TSX stocks to buy right now. The firm has returned more than 142% to investors over the past twelve months. The firm is one of the largest Canadian companies in the world with a market cap of more than $28 billion. The firm makes and sells spare parts used in the exterior and interior of auto vehicles.
Magna International Inc. (TSX: MG.TO) posted quarterly results on May 6, reporting more than $10 billion in revenue and $1.86 in earnings per share. Both values beat market estimates by wide margins. Another interesting option in the spare parts industry is Genuine Parts Co. (NYSE: GPC). At the end of the fourth quarter of 2020, 25 hedge funds in the database of Insider Monkey held stakes worth $194 million in Genuine Parts Co. (NYSE: GPC), up from 23 in the preceding quarter worth $170 million.
1. Shopify Inc. (TSX: SHOP.TO)
Shopify Inc. (TSX: SHOP.TO) is an Ottawa-based e-commerce company. It is placed first on our list of 10 best TSX stocks to buy right now. The company was founded in 2006 and is the largest online retail platform in Canada. Shopify stock has returned more than 30% to investors over the past twelve months. The company has received positive ratings from investment advisories over the past few months, with Stifel starting coverage on Shopify in March. The company also sells point of sale systems to different businesses.
On April 29, investment firm Roth Capital upgraded Shopify Inc. (TSX: SHOP.TO) to Buy from Neutral after the e-commerce firm posted impressive quarterly results. American retailer Amazon.com, Inc. (NASDAQ: AMZN) is a direct competitor of the Canadian firm. Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Amazon.com, Inc. (NASDAQ: AMZN) with 4.9 million shares worth more than $16 billion.
You can also take a peek at 10 Best Travel Stocks to Buy Right Now, and 10 Best Automotive Stocks to Invest in Now.
