EMA-PC.TO
UtilitiesEmera Incorporated · Regulated Electric · $18B
What is Emera Incorporated?
Emera Incorporated is a Halifax-based energy company operating electric and gas utilities across Canada, the United States, and the Caribbean. Its subsidiaries serve hundreds of thousands of customers through a diversified mix of generation and distribution assets.
Emera generates, transmits, and distributes electricity using coal, natural gas, oil, hydro, wind, solar, and biomass facilities. It also purchases, distributes, and sells natural gas across Florida and New Mexico. A subsidiary transports re-gasified liquefied natural gas through a pipeline connecting New Brunswick to northeastern US consumers. The company additionally provides energy marketing, trading, and asset management services across its operating segments.
Emera was incorporated in 1998 and is headquartered in Halifax, Canada.
- Electric utility services in Florida, Nova Scotia, Barbados, and the Bahamas
- Natural gas distribution across Florida and New Mexico
- LNG transportation via a 145-kilometre pipeline in Atlantic Canada
- Renewable and conventional power generation including wind and solar
- Energy marketing, trading, and asset management services
Is EMA-PC.TO a Good Stock to Buy?
UQS Score rates EMA-PC.TO as Below Average overall.
The most constructive element in Emera's profile is its Valuation pillar, which lands at Good — suggesting the preferred shares are not priced at a premium relative to what the underlying business delivers. The Moat and Growth pillars both sit at Neutral, reflecting the stable but unexciting characteristics typical of regulated utility operations.
Both the Quality and Risk pillars register as Weak, which points to meaningful concerns around balance sheet resilience and earnings consistency — areas that matter especially for income-oriented investors.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does EMA-PC.TO pay dividends?
Yes — Emera Incorporated pays a dividend.
Emera pays a regular dividend, consistent with its identity as a regulated utility holding company. Utilities in this category typically sustain dividends through predictable, rate-regulated cash flows rather than rapid earnings growth. Investors drawn to EMA-PC.TO often prioritize income stability, though the Weak Risk pillar warrants attention when assessing dividend sustainability.
When does EMA-PC.TO report earnings?
Emera Incorporated reports earnings on a quarterly cadence, typical for TSX-listed equities of its size.
As a regulated utility, Emera's quarterly results tend to reflect rate-base growth, capital expenditure cycles, and currency effects across its multi-jurisdiction footprint. The Weak Quality pillar suggests recent financial performance has lagged sector peers on key efficiency measures.
For the most recent quarter's results and guidance, visit Emera's investor relations page directly.
EMA-PC.TO Price History
+46.0% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Emera Incorporated?
Based on Emera Incorporated's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
EMA-PC.TO Long-term Outlook
Emera's Growth pillar sits at Neutral, consistent with the slow, regulated expansion typical of integrated utility holding companies. Capital deployment into rate-base growth across Florida and Atlantic Canada provides a structural path forward, but the Weak Risk pillar introduces uncertainty around leverage and execution. The Good Valuation pillar suggests the market has already priced in a cautious outlook, leaving limited upside surprise unless the balance sheet improves materially.
Growth drivers
- Rate-base expansion through regulated capital investment in Florida and Nova Scotia
- Growing natural gas distribution customer base across Florida and New Mexico
- Gradual transition toward renewable generation assets within the existing portfolio
Key risks
- Elevated debt load reflected in the Weak Risk pillar, limiting financial flexibility
- Regulatory lag risk across multiple jurisdictions with different rate-setting timelines
- Currency and commodity exposure from multi-country operations in the Caribbean and US
EMA-PC.TO vs Peers
Emera operates alongside several North American regulated utilities, each with a distinct geographic and financial profile.
Duke Energy is one of the largest US electric utilities, offering significantly greater scale and a predominantly domestic US regulatory footprint compared to Emera's multi-country structure.
Alliant Energy focuses on Midwest US regulated electric and gas utilities, with a cleaner balance sheet profile and a more concentrated geographic operating base than Emera.
Evergy serves Kansas and Missouri with a straightforward regulated utility model, lacking Emera's Caribbean and Atlantic Canadian exposure but also avoiding the associated currency and regulatory complexity.
Frequently Asked Questions
What does Emera Incorporated do?
Emera is an energy holding company that generates, transmits, and distributes electricity and natural gas across Canada, the United States, and the Caribbean. It operates regulated utilities in Florida, Nova Scotia, Barbados, and the Bahamas, and also runs a natural gas pipeline connecting Atlantic Canada to northeastern US markets.
Does EMA-PC.TO pay dividends?
Yes, Emera pays a regular dividend. As a regulated utility holding company, it relies on predictable rate-regulated cash flows to support distributions. Investors should review the Weak Risk pillar rating when evaluating the long-term reliability of those payments.
When does EMA-PC.TO report earnings?
Emera reports on a quarterly cadence, standard for TSX-listed companies of its size. Our data source does not cover specific upcoming earnings dates — check Emera's investor relations page for the current reporting schedule.
Is EMA-PC.TO a good stock to buy?
The UQS Score rates EMA-PC.TO as Below Average overall. The Valuation pillar is Good, and Moat and Growth are Neutral, but both Quality and Risk are Weak. Whether it suits a particular investor depends on their income goals and tolerance for balance sheet risk. The full pillar breakdown is available to Pro members.
Is EMA-PC.TO overvalued?
The UQS Valuation pillar for EMA-PC.TO is rated Good, suggesting the shares are not trading at an excessive premium relative to the underlying business. However, valuation alone does not offset the concerns flagged in the Quality and Risk pillars.
How does EMA-PC.TO compare to its competitors?
Emera's multi-jurisdiction footprint — spanning Canada, the US, and the Caribbean — sets it apart from more geographically focused peers like Alliant Energy and Evergy. That diversification adds complexity and currency exposure. Duke Energy operates at a much larger scale within the US regulated market.
What is EMA-PC.TO's market cap bracket?
Emera Incorporated is classified as a large-cap company, placing it among the more substantial publicly traded utilities listed on the TSX.
Who founded Emera Incorporated?
Emera was incorporated in 1998 as the holding company for Nova Scotia Power. Its origins trace back to the privatization of Nova Scotia's provincial electric utility. Full historical context is available through Emera's corporate website and public filings.
Is EMA-PC.TO a long-term quality indicator?
From a long-term quality perspective, EMA-PC.TO's UQS profile is mixed. The Neutral Moat and Growth pillars suggest the business has durable regulated characteristics, but the Weak Quality and Risk pillars indicate the company carries financial vulnerabilities that long-term holders should monitor closely.
What is the main competitive advantage of Emera Incorporated?
Emera's primary advantage lies in its regulated utility franchises, which provide legally protected service territories and rate-regulated revenue streams. This structural protection underpins the Neutral Moat rating, though it does not fully offset the balance sheet pressures reflected in the Risk pillar.
What sector does EMA-PC.TO belong to?
EMA-PC.TO belongs to the Utilities sector. Regulated utilities in this sector are generally characterized by stable demand, government-overseen pricing, and capital-intensive infrastructure — all of which shape Emera's operating and financial profile.
Is EMA-PC.TO a growth stock or value stock?
Based on its UQS profile, EMA-PC.TO leans toward value rather than growth. The Growth pillar is Neutral and the Valuation pillar is Good, suggesting the market prices the stock modestly — consistent with a slow-growth, income-oriented utility rather than a high-growth compounder.
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Pro Analysis
EMA-PC.TO — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 8, 2026 | 48.5 | 25.0 | 53.0 | 49.4 | 37.7 | 90.0 | +2.2 |
| Apr 29, 2026 | 46.3 | 39.5 | 53.0 | 49.4 | 7.4 | 81.0 | +0.1 |
| Apr 26, 2026 | 46.2 | 39.5 | 53.0 | 49.2 | 7.4 | 80.7 | +0.1 |
| Apr 25, 2026 | 46.1 | 39.5 | 53.0 | 49.2 | 7.4 | 79.8 | +0.1 |
| Apr 23, 2026 | 46.0 | 39.5 | 53.0 | 48.7 | 7.4 | 79.8 | 0.0 |
| Apr 20, 2026 | 46.0 | 39.5 | 53.0 | 48.7 | 7.4 | 79.9 | -0.1 |
| Apr 19, 2026 | 46.1 | 39.5 | 53.0 | 49.5 | 7.4 | 79.7 | -0.1 |
| Apr 18, 2026 | 46.2 | 39.5 | 53.0 | 49.5 | 7.4 | 80.5 | -1.3 |
| Apr 12, 2026 | 47.5 | 39.5 | 53.0 | 49.5 | 7.4 | 89.1 | — |
EMA-PC.TO — Pillar Breakdown
Quality
— 36.5/100 (25%)Emera Incorporated has average quality metrics, with room for improvement in margins or capital efficiency.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 49.3/100 (20%)Emera Incorporated shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 9.9/100 (15%)Emera Incorporated presents elevated risk with concerns around leverage or financial stability.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 73.5/100 (15%)Emera Incorporated trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 53/100 (25%)Emera Incorporated possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for EMA-PC.TO.
Score Composition
Financial Data
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How is the EMA-PC.TO UQS Score Calculated?
The UQS (Unified Quality Score) for Emera Incorporated is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Emera Incorporated's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Emera Incorporated is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.