Report
Andrew Bischof, CFA, CPA

Emera's mostly regulated business mix drives capital growth opportunities.

We are reaffirming our CAD 46 fair value estimate, along with our narrow economic moat and stable moat trend ratings, after Emera reported first-quarter operating earnings of $0.87 per share versus $0.72 in the same year-ago period. We are maintaining our full-year estimates and 7% earnings growth expectation through 2022.
In the quarter, results were boosted by the completion of Emera's wholly owned Maritime Link transmission project and inclusion of Teco results. Favorable weather benefited al...
Underlying
Emera Incorporated

Emera is an energy and services company which invests in electricity generation, transmission and distribution, gas transmission and utility energy services. Co. had six segments: Nova Scotia Power Inc., an electric utility and electricity supplier in Nova Scotia; Emera Maine, which provides electric transmission and distribution services in the U.S.; Emera Caribbean, which includes Emera (Caribbean) Incorporated and its subidiaries; Pipelines, which includes Emera Brunswick Pipeline Company Ltd. and an equity investment in Maritimes & Northeast Pipeline; Emera Energy, which includes Emera Energy Services that provides energy management services; and Corporate and Other.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Andrew Bischof, CFA, CPA

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