Emera Inc Dossier
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SectorUtilities IndustryUtilities - Regulated Electric Beta (adjusted)0.63 Intrinsic Value $32.44median of 6 methods · middle span $13-$38based on filings through 31 Dec 2025 Market Price $47.67Price as of 1 Oct 2026 OvervaluedIntrinsic value is 32% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $14.6B Enterprise Value $33.9B Shares Outstanding 299.7M diluted Moat Rating None Next Earnings Date6 Nov 2026 Last ex-dividend31 Jul 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary Emera offers a predominantly regulated-utility growth profile supported by a CAD 20 billion five-year capital plan, forecast 7%-8% rate-base growth through 2030, and management's 5%-7% average adjusted-EPS growth target. First-half 2026 execution was broadly consistent with that framework: more than CAD 1.7 billion was invested, operating cash flow before working capital increased 8%, and management expected full-year adjusted-EPS growth above its normal range. Portfolio simplification also advanced through the completed New Mexico Gas Company sale. A Hold stance is appropriate because higher corporate interest expense, Canadian-dollar translation effects, and concentration of capital and earnings in Florida remain material sensitivities. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$53.00 Mean target$62.50 High · most bullish analyst$72.00 Street targets sit above today's price; our intrinsic value sits below it. Different horizons, different questions. Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario $53.0018% Capital-project delays or adverse regulatory outcomes reduce annual investment below plan and push adjusted-EPS growth below 5%. Higher corporate interest expense and unfavorable Canadian-dollar translation further offset regulated-utility growth, weakening dividend-growth capacity and the expected benefit from portfolio simplification. Base CaseCentral scenario $62.5057% Matches the consensus meanEmera completes substantially all of its 2026 capital plan, delivers 2026 adjusted-EPS growth above its normal range as management expects, and subsequently compounds adjusted EPS within the 5%-7% target while rate base grows 7%-8%. Bull CaseUpside scenario $72.0025% Capital deployment reaches the CAD 4.0 billion 2026 plan, adjusted-EPS growth exceeds the 7% upper end of the normal range, and the New Mexico Gas proceeds support regulated investment and debt reduction. Sustained Florida customer and rate-base growth then keeps results near or above the upper half of management's 5%-7% long-term EPS target. Scenarios are anchored to street consensus at the research date, with our probabilities and rationale. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |