With AI enthusiasm, geopolitical conflict, and tariff uncertainty pulling markets in different directions, companies with predictable cash flows, durable infrastructure moats, and rising dividends may be the ideal setups for 2026.
Investors may want to look north of the border and consider these three Canadian companies with predictable (some might say boring) business models that could be perfectly positioned in 2026. These three stocks won't make headlines, but they might quietly make you money.
TC Energy: A Toll Booth on North America’s Energy Network
There is no shortage of angles for investors in 2026. The tech trade, fueled by artificial intelligence, remains a fertile area. The conflict with Iran has also pushed defense and cybersecurity stocks to the forefront.
However, both of those investment theses rely on energy. That explains why TC Energy (NYSE: TRP) is a stock to consider for 2026. The Calgary-based company transports and delivers natural gas and crude oil using its network of pipelines throughout North America.
Energy stocks were expected to perform well in 2026 before the conflict in Iran sent crude oil prices surging.
Now, with the potential that oil prices may remain higher for longer, it makes sense to invest in companies that make up the network oil and gas need to move through, regardless of price.
This is a rock-solid company that has been in TradeSmith’s Green Zone for nearly two years. One reason for that is that the company generates 98% of its comparable EBITDA from rate-regulated or long-term take-or-pay contracts. In 2025, TC Energy put $8.3 billion in new projects into service. Each project came in significantly under budget, which may not be priced into the stock, despite TRP stock being up over 16% in the last 12 months.
Investing in TRP stock will require a little conviction. Institutional ownership, while still leaning bullish over the past 12 months, fell sharply in the last two quarters. Yet the stock price has been resilient, particularly in the three-month period ending March 17, during which TRP is up more than 18%.
Canadian National Railway: A Coast-to-Coast Freight Powerhouse
The next two Canadian stocks are freight railways. First up is Canadian National Railway (NYSE: CNI). This is the only railroad in North America that connects the Atlantic, Pacific, and Gulf coasts. That creates a similar, but different, toll booth effect for energy companies, but applied to long-haul freight.
Transportation stocks (i.e., transports) have sold off hard on two different occasions in 2026. But neither the AI scare nor the tariff shock affected Canadian railways. That doesn’t mean there are no tariff concerns. In its most recent earnings report, the company reported approximately CAD $350 million (approx. $255 million) in revenue losses from tariffs and flat volumes for 2026. However, in the last two quarters, Canadian National Railway has posted record grain shipments.
That could explain why institutional buying moved from bearish to bullish in the fourth quarter. It also supports the forward outlook for 12% growth in earnings.
Analysts’ price targets have been coming down since the company’s last earnings report. However, CNI stock still has a consensus price target of over $118 as of March 17, which would provide 16% upside. Helping investors wait for that growth, the company just raised its dividend by 3% and announced a new share buyback authorization for up to 24 million shares.
A Cross-Border Rail Growth Story
Canadian Pacific Kansas City (NYSE: CP) is another rail stock to consider. The company is the only single-line railroad between Canada, the United States, and Mexico. This is a key advantage at a time when supply chain resilience is a key part of corporate strategy.
The former Canadian Pacific Railway merged with Kansas City Southern in 2021. Investors might be unimpressed by a 6.2% growth in the CP stock price over the last five years, but this is still a story in the early innings. The synergies are still flowing through to the bottom line.
Like Canadian National Railway, CP faces tariff uncertainty. Specifically, the company is projecting a C$200 million (approx. $146 million U.S.) impact from tariffs in the next 12 months.
One of the concerns about Canadian Pacific is its valuation.
At 25x earnings, it’s trading at a premium to the rail stock average. However, analysts forecast 14% earnings growth over the next 12 months and have a consensus price target of $92, which is approximately 14% upside.
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The article "3 Boring Infrastructure Stocks That Could Beat the Market in 2026" first appeared on MarketBeat.
