Many investors have been buying up stocks after former US President Donald Trump won the election this month. The already hot market continues to rise and some stocks are doing significantly better than others. Oil and gas stocks have performed particularly well because a Republican administration is likely to be much friendlier to the industry than a Democratic administration would have been.

And it’s not just US stocks that will benefit from this trend. As throughput and oil production rise in North America, many top Canadian stocks will rise as well. One stock to watch out for is Enbridge (TSX:ENB)(NYSE:ENB). The Canadian pipeline giant has been doing well of late, with shares closing at just over $60 last week. It is up more than 8% since Trump won the election on November 5, and this could be the start of a much larger rally to come.

Enbridge is one of the safest Canadian dividend stocks, offering investors a delicious payout with a 6% yield. But now, with potentially more attractive industry conditions, the stock could rise even further in the coming months and weeks. Enbridge trades at 21 times its previous earnings, even though its shares are up 27% year-to-date.

For long-term investors, Enbridge can be an excellent investment due to its sustained dividend growth and the stability it offers, making it an ideal option to put in your tax-free savings account for years to come.