Best Utility Stocks this February 2026 in Canada

Hydro One Ltd stands as a major electricity transmission and distribution provider in Ontario, with a promising role in the Solactive Canada Utilities Index adjustment set for February 5, 2026. Investors can appreciate a solid dividend yield of 2.53% alongside impressive returns of 19.31% over the past year and 79.73% over five years, indicating strong performance potential. With a B- analyst rating, it presents an attractive option for those seeking reliable income from financially healthy companies in a stable sector.

Hyatt Hotels Corporation stock shows mixed signals; while the short-term Moving Average indicates a sell, the long-term average suggests a buy, resulting in a generally positive outlook.

Hyatt Hotels is expected to grow earnings by 80.4% and revenue by 19.2% annually, with EPS projected to increase by 81.7% and a return on equity forecasted at 16.7% in three years.

Humana (HUM) has a consensus rating of Hold from 18 analysts, with 11% recommending Strong Buy, 22% Buy, and 67% suggesting Hold.

Northland Power Inc. stands out as a leader in renewable energy, specializing in wind, solar, and offshore projects, and is included in the Solactive Canada Utilities Index. With a solid dividend yield of 5.84% and a consensus rating of Moderate Buy, it has garnered multiple "Outperform" ratings from National Bank Financial Inc. Despite a challenging five-year return of -59.80%, the stock shows potential for recovery, having achieved a one-year return of 10.24%.

Northland Power has a consensus rating of 'Moderate Buy' based on 4 buy ratings and 4 hold ratings, with an average price target of C$22.56 from 8 analysts.

Over the past year, Northland Power (NPI) has seen a -0.36% change, with a 52-week price range of C$15.96 to C$25.99.

The average 12-month price target for Northland Power is C$23.17, indicating a potential upside of 22.64% from the current price of C$18.89, with targets ranging from C$19.00 to C$27.00.

Emera Inc. stands out as a diversified energy and utilities company, with a solid presence in both electricity and gas sectors, making it a noteworthy inclusion in the Canada Utilities Index for February 2026. With a dividend yield of 4.27% and impressive returns of 23.30% over the past year and 29.17% over five years, it presents a compelling opportunity for investors seeking reliable income from financially healthy companies.

Emera (EMA) has a consensus rating of 'Moderate Buy' from 9 Wall Street analysts, with 5 buy ratings and 4 hold ratings.

Emera stock shows a sell signal from the short-term Moving Average but a buy signal from the long-term average, indicating a generally positive outlook.

Emera (EMA) has increased by 29.28% over the past year, with a 52-week price range of $53.64 to $69.62.

Fortis Inc. stands out as a leading Canadian utility, recognized for its stable regulated operations in electricity and gas distribution. With its shares traded on both the TSX and NYSE under the symbol FTS, it offers a reliable dividend yield of 3.44% and impressive returns of 16.99% over the past year and 41.49% over the past five years. Analysts maintain a cautious stance with a B- rating, highlighting its consistent performance in the Solactive Canada Utilities Index for February 2026.

FTS stock represents shares of Fortis Inc., which is traded on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE).

Analysts have set an average price target of $52.88 for Fortis, with estimates ranging from $46.00 to $57.67, indicating a potential increase of 0.92% from its last closing price of $52.40.