Emera Incorporated is an energy and services company that invests in electricity generation, transmission, and distribution in the United States, Canada, Barbados, and the Bahamas. It operates through segments including Florida Electric Utility, Canadian Electric Utilities, Gas Utilities and Infrastructure, Other Electric Utilities, and Other. The company is also involved in the purchase, transmission, distribution, and sale of natural gas, as well as physical energy marketing, trading, and other energy asset management activities. Incorporated in 1998, it is headquartered in Halifax, Canada.
Emera Lifts Quarterly Dividend to CA$0.74 Per Share
Emera has raised its quarterly dividend to CA$0.74 per share, implying an annual payout of CA$2.96, a 1% increase from the previous CA$2.93 level. The move comes after a softer stretch for the share price, with a 90 day return down 7.98% and a 30 day return down 1.88%, though the 1 year total shareholder return of 6.77% and 3 year total shareholder return of 68.08% reflect longer-term momentum. The most followed valuation narrative pegs Emera's fair value at roughly CA$74.45 per share, above the recent CA$68.42 close, framing the higher dividend as an 8% undervalued case. That view rests on heavy investment in grid modernization, renewables including a $2+ billion solar expansion in Florida, and infrastructure resilience, but faces risks from refinancing needs and exposure to cyber incidents and extreme weather. On valuation, Emera trades at 21.8x earnings, above Canadian peers at 20.9x and the wider North American utilities group at 19.8x, while the fair ratio sits higher at 29x.
Emera Completes New Mexico Gas Sale as Q2 Adjusted EPS Falls to $0.69
Emera closed the sale of New Mexico Gas Company, an Albuquerque-based regulated gas utility, to Bernhard Capital Partners on August 12, completing a divestiture program that also included the May sale of Grand Bahama Power Company. The deal was first announced on August 5, 2024. In its second quarter report released August 7, Emera reported adjusted earnings per share of $0.69, down from $0.79 a year earlier, and adjusted net income of $212 million, down from $236 million, as higher interest expense on long-term debt took $21 million out of the quarter and currency losses on US dollar short-term debt added to the drag. Reported earnings per share were $0.34 against $0.45 a year earlier, as mark-to-market losses grew and the Grand Bahama sale booked a $19 million loss. For the first half of 2026, adjusted EPS of $2.06 was essentially flat against $2.07 in 2025, even as the Florida electric utility earned $441 million in adjusted profit, up from $424 million, and management said it is positioned to beat its 5% to 7% annual target range for adjusted EPS growth in 2026. Emera's utilities invested more than $1.7 billion in the first half of 2026 and the company says it is on track for a $4 billion capital plan this year, while operating cash flow before working capital climbed 8% in the first half of 2026 versus a year earlier.
EMA · Capital · Neutral Emera completed the New Mexico Gas divestiture but Q2 adjusted EPS fell to $0.69 from $0.79 on higher interest expense and FX losses, while management sees 2026 growth above its 5-7% target.
New Mexico Gas Company · Capital · Neutral New Mexico Gas Company was sold by Emera to Bernhard Capital Partners, changing ownership of the regulated gas utility.
Bernhard Capital Partners · Capital · Neutral Bernhard Capital Partners closed its purchase of New Mexico Gas Company from Emera, a private acquisition with no disclosed terms.
Grand Bahama Power Company Limited · Capital · Negative Emera's May sale of Grand Bahama Power Company booked a $19 million loss in the quarter.
Bernhard Capital Partners Completes Acquisition of New Mexico Gas Company
Bernhard Capital Partners has completed its acquisition of New Mexico Gas Company from Emera Inc. The transaction follows approval from the New Mexico Public Regulation Commission. New Mexico Gas Company, headquartered in Albuquerque, is the state's largest regulated natural gas utility, serving more than 550,000 homes and businesses with over 750 employees. The utility will continue operating under its existing name and management team. This acquisition adds to Bernhard's portfolio of regulated utility companies, which includes National Water Infrastructure, Clear Current, Delta Gas Company, and Magnolia Gas Company.
Emera posts C$212 million adjusted Q2 earnings, advances asset sales
Emera reported second-quarter adjusted earnings of C$212 million, or C$0.69 per share, as it advances asset sales to strengthen its balance sheet. The company expects the sale of New Mexico Gas to Bernhard Capital Partners to close later in August, generating after-tax proceeds of approximately C$650 million to C$700 million, which will be used to reduce holding-company debt. Emera also completed the sale of Grand Bahama Power Company on May 12, and year-to-date adjusted earnings totaled C$627 million, up C$12 million from the prior-year period. The company remains on track to deliver compound annual adjusted EPS growth above its 5% to 7% target range through 2026 and expects growth within that range through 2030. Emera deployed more than C$1.7 billion of capital during the first half of 2026 and is targeting annual rate-base growth of 7% to 8% through 2030.
Emera Inc. reported a drop in second-quarter profit. Net income fell to C$105 million, or C$0.34 per share, from C$135 million, or C$0.45 per share, a year earlier. Adjusted earnings, which exclude certain items, came in at C$212 million, or C$0.69 per share. Revenue rose 1.2% to C$2.011 billion from C$1.988 billion.
Emera Inc Declares $0.52 Quarterly Dividend With Ex-Date July 31
Emera Inc announced a quarterly cash dividend of $0.52 per share, payable on August 17, 2026 to shareholders of record as of the July 31, 2026 ex-dividend date. The company has maintained a consistent dividend payment record since 2009, with a 12-month trailing yield of 3.95% and a forward yield of 3.84%. Over the past decade, annual dividends per share have grown at a 5.10% rate, though the payout ratio stands at 0.89 as of March 31, 2026, raising sustainability concerns. Emera's profitability rank is 7 out of 10, supported by positive net income each year over the past ten years, but recent three-year earnings per share growth has declined by approximately 1.60% per year on average.
Canada
United States