3 TSX Blue-Chip Stocks Beginners Can Buy Right Now

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If you’re new to investing, including blue chip stocks in your long-term portfolio will make all the difference. Blue chip stocks are some of the biggest and most reputable names in the industry, with consistent financial performance. Here are three top TSX stocks that offer great growth potential.

Toronto-Dominion Bank

Canada’s central bank is rapidly raising its benchmark interest rates; how can investors take advantage of it? They can buy bank stocks. Rising rates generally increase banks’ net interest margin, which ultimately improves their bottom line. second largest bank in Canada, Toronto-Dominion Bank (TSX: TD) (NYSE: TD), is well positioned to take advantage of ongoing economic growth thanks to its scale and strong presence in the United States

The bank has one of the longest dividend payment streaks of 164 consecutive years. It currently yields 3.8%, which is on par with its peers. For example, investing $10,000 in TD stock today will earn $380 in dividends per year. The amount of the dividend will increase, as the bank manages to increase its net income.

TD stock has returned 16% over the past 12 months. TD shares could be an attractive total-return candidate for long-term investors with strong earnings growth potential and stable dividends.

Tourmaline oil

As natural gas prices rise, Canadian gas producers and investors throw a gala. Canada’s largest natural gas producer Tourmaline oil (TSX:TOU) is doing well, with returns of 170% since last year.

Since the pandemic, the scale, rising gas prices and increased operational efficiencies have remarkably benefited Tourmaline’s finances. Additionally, its higher free cash flow allowed the company to increase payouts to shareholders and issue special dividends. Interestingly, the company is still loaded with cash, so investors can expect more cash distributions in the coming quarters.

Natural gas prices have been significantly higher so far this year relative to 2021. This will likely have a massive positive impact on gas producer revenues – at least for the first half of 2022.

Although Tourmaline stock is trading at all-time highs, it still makes sense to take a long-term view. The stock offers great upside potential, driven by its superior earnings growth outlook and decent dividends.


The largest telecommunications operator in Canada ECB (TSX:BCE)(NYSE:BCE) is my third choice for beginners. Telecom companies like BCE have a stable earnings profile, allowing dividend payments to shareholders. BCE shares are currently yielding 5%, which is above the TSX stock average.

BCE will likely experience an acceleration in earnings growth as 5G becomes more mainstream over the next few years. Its extensive network and one of the largest subscriber bases put it well ahead of the 5G race.

BCE shares have returned 30% over the past 12 months and 70% over the past five years. If you’re looking for stable, low-risk returns and decent dividend income, BCE should be high on your watch list.

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