5 Best Canadian Stocks to Buy and Hold

2. Suncor Energy Inc. (NYSE:SU)

Number of Hedge Fund Holders: 45

Suncor Energy Inc. (NYSE:SU), based in Calgary, Alberta, is an integrated energy firm. Suncor Energy Inc. (NYSE:SU) recently reaffirmed its FY22 production guidance and is one of the best Canadian stocks to buy and hold on our list.

Given its financial stability and expansion prospects, the company has the potential to grow earnings in the long term. On November 16, Suncor Energy Inc. (NYSE:SU) declared a 10% hike in its quarterly dividend to C$0.52 per share. The company’s dividend yield on December 7 came in at 5.06%.

According to the third quarter database of Insider Monkey, 45 hedge funds were bullish on Suncor Energy Inc. (NYSE:SU), with combined stakes worth about $2 billion.