Emera (TSE:EMA) Posts Quarterly Earnings Results

Emera (TSE:EMA) released its quarterly earnings data on Friday. The company reported C$0.69 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$2.01 billion during the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%.

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

• New Mexico Gas sale approved: Emera expects the transaction to close later in August and generate approximately CAD 650–700 million in after-tax proceeds, which will be used to reduce holding-company debt and improve financial flexibility.
• Emera reported year-to-date adjusted EPS of CAD 2.06 and remains on track to deliver adjusted EPS growth above its 5%–7% target through 2026, with growth expected to remain within that range through 2030.
• Rate-base investment remains strong: The company deployed more than CAD 1.7 billion of capital in the first half and is proceeding with an approximately CAD 4 billion 2026 capital plan, aligned with targeted annual rate-base growth of 7%–8% through 2030.
• Growth opportunities are advancing in Florida and Atlantic Canada, including data-center-related development at Tampa Electric, the Nova Scotia–New Brunswick transmission intertie, and potential future transmission projects.
• Second-quarter adjusted EPS fell to CAD 0.69 from CAD 0.79 year over year, pressured by higher depreciation, operating and maintenance costs, interest expense, regulatory lag, and a stronger Canadian dollar earlier in the year.

Emera Trading Down 2.0%

Shares of EMA stock traded down C$1.41 on Friday, reaching C$70.88. 2,042,974 shares of the company’s stock were exchanged, compared to its average volume of 1,237,134. The company’s fifty day simple moving average is C$74.49 and its 200 day simple moving average is C$72.19. The stock has a market capitalization of C$21.68 billion, a PE ratio of 21.68, a P/E/G ratio of 6.20 and a beta of 0.57. The company has a current ratio of 1.07, a quick ratio of 0.23 and a debt-to-equity ratio of 168.83. Emera has a 52 week low of C$63.17 and a 52 week high of C$77.99.

Emera Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a dividend of $0.7325 per share. This represents a $2.93 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, July 31st. Emera’s dividend payout ratio (DPR) is currently 89.14%.

Insider Buying and Selling at Emera

In other news, insider Richard Janega sold 16,500 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the completion of the sale, the insider directly owned 19,642 shares of the company’s stock, valued at approximately C$1,458,418.50. The trade was a 45.65% decrease in their ownership of the stock. Company insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EMA. BMO Capital Markets raised their price objective on Emera from C$76.00 to C$80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Desjardins lifted their target price on shares of Emera from C$70.00 to C$74.00 and gave the company a “hold” rating in a research note on Monday, July 20th. Raymond James Financial lifted their price target on shares of Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Scotiabank upped their price target on shares of Emera from C$78.00 to C$80.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. raised their price objective on Emera from C$73.00 to C$79.00 in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$75.77.

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.