This energy buy is greener than you think

Article Excerpt

A good way for investors to gain exposure to the fast-growing field of renewable energy is with stocks like Emera. It’s currently building a major solar power project in Florida and phasing out its use of coal in Nova Scotia. What’s more, its mostly regulated operations give it dependable cash flow for regular dividend increases. EMERA INC. $57 is a buy. The company (Toronto symbol EMA; Income Growth Portfolio, Utilities sector; Shares outstanding: 246.4 million; Market cap: $14.0 billion; Dividend yield: 4.5%; Dividend Sustainability Rating: Highest; www.emera.com) owns 100% of Nova Scotia Power, that province’s main electricity supplier. In the past few years, Emera has steadily expanded its operations outside of Canada. Its biggest move was the July 2016 acquisition of Teco Energy for $13.9 billion. That firm supplies electricity and natural gas to 1.05 million customers in Tampa Bay, Florida. Another of Teco’s businesses distributes gas to 540,000 customers in New Mexico. Thanks to Teco, the company’s U.S. operations now supply 68%…