Topic: How To Invest

The Successful Investor Hotline – Friday, May 20, 2022

Article Excerpt

EMERA INC., $64.20, Toronto symbol EMA, is a buy. The company owns 100% of Nova Scotia Power, that province’s main electricity supplier. It also owns 100% of Tampa Electric, which provides electricity to more than 765,000 customers. Its other interests include several power plants and natural gas pipelines in the U.S. and the Caribbean. Emera’s revenue in the three months ended March 31, 2022, rose 25.0%, to $2.02 billion from $1.61 billion a year earlier. That beat the consensus forecast of $1.78 billion. If you factor out $142 million in accounting losses from its energy trading business, revenue in the quarter increased $262 million. That gain is mainly due to higher power and gas rates at its operations in Tampa and New Mexico. Excluding unusual items, earnings fell 0.4%, to $242 million from $243 million. Due to more shares outstanding, per-share earnings declined at a faster rate of 4.1%, to $0.92 from $0.96. That missed the consensus estimate of $0.93. The lower earnings are…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.