1.Fortis
FTS.TO (TSX)
Fortis (FTS) stands out as Canada's largest utility holding company, boasting an impressive track record of 52 consecutive years of dividend increases. Currently, the stock offers a dividend yield of approximately 3.29%, with solid returns of 20.41% over the past year and 39.90% over the last five years. Recognized for its regulated operations across Canada, the U.S., and the Caribbean, Fortis is an attractive option for investors seeking reliable income from financially healthy companies.
Pros:
- Long history of dividend increases
- Stable regulated operations
Cons:
- Market exposure
- Potential regulatory changes
2.Canadian Utilities
CU-X.TO (TSX)
Canadian Utilities (CU) stands out as a strong choice for income-seeking investors with a robust dividend yield of 5.53%, reflecting its commitment to providing reliable electricity, natural gas, and infrastructure services. Despite a 1-year return of -9.71%, the company has demonstrated consistent regulated earnings and growth, making it a dependable option in the energy sector. This utility's strong performance and solid dividend make it ideal for those looking to invest in financially healthy companies that offer dependable income.
Pros:
- High dividend yield
- Dependable regulated earnings
Cons:
- Recent negative returns
- Market fluctuations
3.Emera
EMA.TO (TSX)
Emera (EMA) stands out as a major utility with a diversified operational approach, earning a spot among the top TSX utilities for 2026. Investors can benefit from its attractive dividend yield of 4.32% and robust 1-year return of 20.55%, reflecting its solid market position. Despite recent analyst ratings showing mixed sentiments—CIBC downgrading to Neutral while BMO maintains an Outperform—Emera remains a reliable choice for those seeking consistent income from a financially sound company.
Pros:
- Strong market position
- Solid dividend yield
Cons:
- Market volatility risk
- Dependence on regulatory environment
4.Capital Power
CPX.TO (TSX)
Capital Power (CPX) focuses on blending stable cash flows from its power generation assets in Canada and the U.S. with growth opportunities from modern projects. With a solid dividend yield of 4.15% and a robust 1-year return of 33.71%, it appeals to investors seeking reliable income and growth. However, the stock is currently viewed as overvalued compared to its market price of 63.64 CAD, with a consensus rating leaning towards a moderate buy amidst recent downgrades.
Pros:
- Stable cash flows
- Growth from modern projects
Cons:
- Market competition
- Dependence on energy prices
5.Hydro One
H.TO (TSX)
Hydro One, a leading electricity transmission and distribution company in Ontario, offers an attractive investment opportunity with a dividend yield of 2.27%. Recent performance highlights include an impressive 1-year return of 18.14% and a substantial 5-year return of 92.23%. However, analysts have issued sell signals based on moving averages, suggesting caution for potential investors.
Pros:
- Leading market position
- Consistent dividend payments
Cons:
- Technical sell signals
- Market volatility
6.AltaGas
ALA.TO (TSX)
AltaGas stands out as a compelling choice for investors, blending regulated natural gas utilities in both Canada and the U.S. with an array of midstream assets, such as pipelines. With a solid 1-year return of 24.33% and a remarkable 5-year return of 130.27%, the company also boasts a dividend yield of 2.66%, making it an attractive option for those seeking reliable income and growth potential.
Pros:
- Strong growth potential
- Diversified operations
Cons:
- Lower dividend yield
- Market exposure risks
Final Words
As you consider the best utility stocks in Canada this April 2026, remember to evaluate options like Emera for their solid performance and dividend potential. Take time to compare different investments and conduct your own research to find the best fit for your portfolio.
Frequently Asked Questions
Emera (EMA.TO) has shown strong performance with a 1-year return of 20.55% and a Year-To-Date (YTD) return of 5.62% as of March 2026. The stock has demonstrated consistent growth over the past few years, making it a notable investment option in the utilities sector.
Emera offers a dividend yield of approximately 4.32%, with quarterly distributions. The next dividend payment is set at $0.7325, reflecting the company's commitment to returning value to its shareholders.
Emera is a major utility in Canada, recognized for its diversified operations and strong market position. When comparing it to other utility stocks, it is essential to consider factors such as dividend yield, return history, and market cap to determine the best fit for your investment strategy.
Investing in utility stocks like Emera carries risks such as regulatory changes, fluctuations in energy prices, and potential economic downturns. However, utility stocks are often considered safer investments due to their stable demand and consistent cash flow.
As of 2026, Emera has a market capitalization of $21.55 billion, indicating its significant presence in the utilities sector. This market cap reflects the company's stability and the importance of its operations in electricity generation and distribution.
Before investing in Emera, consider its dividend yield, historical returns, and market performance. It's also crucial to evaluate your investment goals and risk tolerance, as utility stocks can provide steady income but may not offer high growth potential compared to other sectors.
