If you’re a stock investor, it’s nearly impossible to avoid market volatility. Some days are up; some days are down. And in uncertain economic environments, like we’re seeing in 2025, those swings can feel even more dramatic.
But while volatility is part of the journey, there are smart ways to protect your long-term portfolio without pulling out of the market entirely. The key is owning reliable companies that could weather the storms, deliver consistent results, and even reward shareholders through tough times. Fortunately, the Toronto Stock Exchange has many such stocks.
In this article, I’ll spotlight two safe Canadian stocks that could help steady your portfolio through ongoing market turbulence.
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Fortis stock
One great example of such a reliable performer is Fortis (TSX:FTS). This St. John’s-based utility company operates one of the most diversified regulated electric and gas networks across North America. After surging by around 20% over the last year, FTS stock is currently trading at $64.36 per share, giving it a market cap of $32.1 billion. It also pays a quarterly dividend with an annualized yield of around 3.8%.
Now, if you’re wondering how the company is performing lately, it just wrapped up another solid year. In 2024, Fortis delivered an 8.3% YoY (year-over-year) increase in its adjusted net profit to $1.63 billion, mainly due to continued expansion in its rate base — essentially, the value of its regulated utility assets.
In addition, the company benefited from new customer rates in places like Arizona and New York. On the revenue front, the company pulled in $11.5 billion for the year, holding steady, despite broader economic concerns.
If you don’t know it already, Fortis has a $26 billion capital plan lined up over the next five years, focused on improving grid reliability, building clean energy infrastructure, and expanding its U.S. transmission footprint. This plan is expected to grow its mid-year rate base from $39 billion to $53 billion by 2029. These are some of the key fundamentals that make Fortis a safe stock to hold for the long term.
Canadian Utilities stock
Let’s move on to another steady stock, Canadian Utilities (TSX:CU), that’s worth keeping on your radar. This Calgary-based energy infrastructure firm runs everything from electricity and natural gas transmission to renewables and water systems.
CU stock has climbed by nearly 17% over the past year and is now trading at $35.98 per share with a market cap of $7.4 billion. It pays out dividends every quarter, giving it a solid annualized yield of about 5.1%.
Last year, Canadian Utilities posted an 8.6% YoY increase in its adjusted annual earnings to $647 million with higher contributions from its regulated utilities and the favourable regulatory update in Australia. Moreover, CU is continuing to push forward on major projects like the Yellowhead natural gas pipeline and the Central East Transfer-Out electricity transmission line. Such projects, which aim to improve grid reliability and support clean energy growth, are expected to drive steady long-term earnings and cash flow growth — making this utility stock a solid choice for long-term portfolios.
