Emera (TSE:EMA) Releases Quarterly Earnings Results

Emera (TSE:EMA) posted its quarterly earnings data on Friday. The company reported C$0.85 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$1.98 billion during the quarter. Emera had a return on equity of 7.51% and a net margin of 12.85%.

Here are the key takeaways from Emera’s conference call:

• Emera reported third-quarter adjusted EPS of CAD 0.85, down 3% year over year, while year-to-date adjusted EPS reached CAD 2.90. Management said it remains on track to exceed its 5%–7% adjusted EPS growth target in 2026 and maintain its longer-term outlook through 2030.
• The company introduced a CAD 21.5 billion five-year capital plan, about 5% above last year’s plan, and expects rate base growth of 7.5%–8.5% through 2031. Roughly three-quarters of planned investment is directed to reliability and resiliency, with about 82% allocated to Florida.
• Large-load opportunities are advancing in Florida: Tampa Electric expects to contract by year-end for an initial 350 MW at the Auburndale Technology Center, with delivery requiring only tens of millions of dollars in tie-in investment. The company says its proposed tariff is designed to make large customers cover their costs and protect existing customers; regulatory approval and final contracts remain pending.
• Emera said its proposed merger with Canadian Utilities could combine growth opportunities in Florida and Alberta and strengthen the company’s financial and operating capacity. Closing is expected in Q3 or Q4 2027, subject to regulatory and shareholder approvals.
• Nova Scotia Power is seeking approval to securitize about CAD 1 billion in costs, which Emera estimates could save customers approximately CAD 265 million over 30 years. The savings depend on approval by the Nova Scotia Energy Board.

Emera Stock Performance

Shares of TSE EMA traded down C$0.24 during trading hours on Friday, reaching C$71.59. The stock had a trading volume of 2,644,507 shares, compared to its average volume of 1,348,245. The business’s fifty day moving average is C$68.20 and its two-hundred day moving average is C$71.10. The company has a debt-to-equity ratio of 153.87, a current ratio of 0.73 and a quick ratio of 0.23. The company has a market cap of C$21.99 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 6.20 and a beta of 0.39. Emera has a twelve month low of C$64.62 and a twelve month high of C$77.99.

Emera Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 13th will be paid a $0.74 dividend. The ex-dividend date is Friday, October 30th. This is a positive change from Emera’s previous quarterly dividend of $0.7325. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.1%. Emera’s dividend payout ratio is currently 92.78%.

Wall Street Analyst Weigh In

EMA has been the subject of several research analyst reports. Desjardins set a C$74.00 target price on shares of Emera and gave the company a “hold” rating in a research note on Tuesday, October 27th. BMO Capital Markets raised their price target on shares of Emera from C$76.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Raymond James Financial boosted their price objective on shares of Emera from C$75.25 to C$77.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce cut their price objective on shares of Emera from C$76.00 to C$72.00 in a research report on Tuesday, September 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Emera from C$73.00 to C$79.00 in a research note on Tuesday, July 21st. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$76.25.

Emera Company Profile

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.