Emera Incorporated

TSX:EMA Stock Report

Market Cap: CA$21.8b

Emera Future Growth

Future criteria checks 1/6

Emera is forecast to grow earnings and revenue by 8.1% and 2.9% per annum respectively. EPS is expected to grow by 6.5% per annum. Return on equity is forecast to be 8.8% in 3 years.

Key information

8.1%

Earnings growth rate

6.53%

EPS growth rate

Electric Utilities earnings growth11.0%
Revenue growth rate2.9%
Future return on equity8.84%
Analyst coverage

Good

Last updated29 Apr 2026

Recent future growth updates

Analysis Article • Nov 11

Emera Incorporated Beat Revenue Forecasts By 7.6%: Here's What Analysts Are Forecasting Next

As you might know, Emera Incorporated ( TSE:EMA ) recently reported its quarterly numbers. Results overall were...

Recent updates

Narrative Update • Apr 25

EMA: Florida Stability And Nova Scotia Risk Will Shape Balanced Forward Expectations

Analysts have nudged Emera's fair value estimate higher to CA$71.58 from CA$71.32, reflecting a series of recent price target increases in the CA$1 to CA$2 range at several firms, along with updated assumptions for revenue growth, profit margins and future P/E. Analyst Commentary Recent Street research around Emera has been active, with several firms adjusting their price targets by CA$1 to CA$2 and setting targets in the low to mid CA$70s.
Narrative Update • Apr 10

EMA: Florida Stability And Nova Scotia Risk Will Guide Future Rerating Potential

Narrative Update on Emera Emera's updated fair value estimate of CA$71.32, up from CA$70.75, reflects analysts' recent moves to lift price targets into the low to mid CA$70s, supported by stable assumptions on discount rate, revenue growth, profit margin, and future P/E. Analyst Commentary Recent Street research around Emera centers on how much upside remains after the stock's rerating, with price targets now clustered in the high CA$60s to mid CA$70s and opinions split between valuation support and caution on regional risk.
Narrative Update • Mar 26

EMA: Florida Stability And Nova Scotia Uncertainty Will Shape Future Returns

The updated analyst price target for Emera rises by about CA$1 to CA$70.75, reflecting recent target revisions from CA$72 to CA$75 as analysts weigh steady earnings guidance, valuation concerns, and differing views on the regulatory backdrop in Nova Scotia and growth prospects in Florida. Analyst Commentary Recent research views on Emera show a split between bullish analysts who are comfortable with the current outlook and valuation, and more cautious voices who see less room for upside at current levels.
Narrative Update • Mar 11

EMA: Florida Earnings Base Will Balance Nova Scotia Regulatory Uncertainty

Analysts have nudged their average price targets for Emera slightly higher, with recent moves including TD Securities lifting its target to CA$75 from CA$74 and BMO Capital moving to CA$74 from CA$72. Meanwhile, others like BofA and JPMorgan have trimmed or moderated views on valuation and regulatory uncertainty, resulting in only a modest adjustment to the overall analyst price target in our model.
Narrative Update • Feb 25

EMA: Florida Operations And Equity Program Will Offset Nova Scotia Uncertainty

Analysts have inched their price targets on Emera higher, with some moving to CA$74 and CA$75 while others trim or reset targets around CA$69. These changes reflect differing views on valuation, regulatory risk in Nova Scotia, and the balance between near term visibility and longer term growth drivers.
Narrative Update • Feb 11

EMA: Florida Strength And Equity Program Will Balance Nova Scotia Risks

Emera’s analyst price target has shifted slightly to C$69.00 from C$68.79 as analysts factor in the recent capital update, reaffirmed earnings guidance, and a less supportive regulatory backdrop in Nova Scotia that they see as limiting the justification for a premium valuation based mainly on the Florida business. Analyst Commentary Recent commentary around Emera centers on how much credit the stock should get for its Florida operations versus the uncertainty in Nova Scotia, especially now that the capital plan and earnings outlook are clearer.
Narrative Update • Jan 26

EMA: Premium Pricing And Equity Program Will Shape Future Risk Reward Balance

Analysts have trimmed their average fair value estimate for Emera by about C$0.43 to roughly C$68.79. The revised figure reflects updated price targets that take into account a premium valuation, regulatory uncertainty in Nova Scotia, and more cautious expectations around growth beyond the Florida business.
Analysis Article • Jan 16

Emera (TSE:EMA) Will Pay A Dividend Of CA$0.7325

Emera Incorporated's ( TSE:EMA ) investors are due to receive a payment of CA$0.7325 per share on 13th of February...
Narrative Update • Jan 10

EMA: Funding Flexibility And Dividend Policy Will Shape Future Risk Reward Balance

Analysts have nudged their price targets for Emera higher, with recent updates moving from C$63 to a range of C$69 to C$72 as they refine their models and outlook for the stock. Analyst Commentary Recent research updates cluster Emera's price targets in a tight C$69 to C$72 band, giving you a clearer sense of how the stock is being framed on valuation and execution right now.
Narrative Update • Dec 26

EMA: Dividend Sustainability And Regulation Will Shape Measured Outlook Amid Funding Uncertainty

The analyst price target for Emera has edged higher to about C$69.21 from C$68.50, as analysts factor in slightly improved fair value assumptions supported by a series of upward target revisions across the Street. Analyst Commentary Analysts have turned incrementally more constructive on Emera as they update their models, reflecting improved visibility on earnings growth and balance sheet resilience.
Narrative Update • Dec 11

EMA: Dividend Stability And Regulatory Backdrop Will Guide Share Performance

We are raising our price target on Emera slightly to C$68.50 from about C$68.39, reflecting analysts modestly higher long term expectations following multiple target hikes across the Street on updated models and a more constructive outlook for the shares. Analyst Commentary Recent price target revisions across the Street highlight a more constructive stance on Emera, with multiple firms lifting their estimates into the low C$70s as updated models reflect improved earnings visibility and a steadier regulatory backdrop.
Analysis Article • Dec 02

Returns At Emera (TSE:EMA) Are On The Way Up

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Ideally, a business will...
Narrative Update • Nov 27

EMA: Dividend Increase and Margin Outlook Will Shape Performance Ahead

Analysts have raised their price target for Emera by approximately $0.86 to $68.39. This adjustment reflects improved margin forecasts and updated financial projections.
Analysis Article • Nov 11

Emera Incorporated Beat Revenue Forecasts By 7.6%: Here's What Analysts Are Forecasting Next

As you might know, Emera Incorporated ( TSE:EMA ) recently reported its quarterly numbers. Results overall were...
Narrative Update • Nov 09

EMA: Dividend Increase and New CFO Appointment Will Shape Future Outlook

The average analyst price target for Emera has increased modestly, rising by approximately $0.43. This change reflects recent updates in financial modeling and broad optimism about the company's outlook among analysts.
Analysis Article • Nov 04

Are Investors Undervaluing Emera Incorporated (TSE:EMA) By 23%?

Key Insights Emera's estimated fair value is CA$86.87 based on Dividend Discount Model Emera's CA$66.53 share price...
Narrative Update • Oct 25

Grid Developments And Dividend Actions Will Shape North American Energy Outlook

Analysts have raised their price targets for Emera. The consensus estimate has increased by roughly C$1.20 to reflect improved fair value calculations and continued confidence in the company's growth outlook.
Analysis Article • Oct 17

Emera (TSE:EMA) Is Increasing Its Dividend To CA$0.7325

The board of Emera Incorporated ( TSE:EMA ) has announced that it will be increasing its dividend by 1.0% on the 14th...
Narrative Update • Oct 10

Electrification In Florida And Atlantic Canada Will Drive Grid Modernization

Analysts have raised their price target for Emera, increasing it from approximately C$65.04 to C$65.89. They cite stronger revenue growth and profit margin outlooks as key factors supporting the upward revision.
Narrative Update • Sep 04

Electrification In Florida And Atlantic Canada Will Drive Grid Modernization

Analysts remain divided as Emera’s strong operational performance and attractive Florida utility exposure support optimism, yet concerns about already-reflective valuation and greater relative upside in peers have led to neutral ratings, leaving the consensus price target unchanged at CA$65.04. Analyst Commentary Bullish analysts cited Emera's strong operational performance, including a recent "blowout" quarter, as justification for price target increases.
Analysis Article • Jul 15

Investors Met With Slowing Returns on Capital At Emera (TSE:EMA)

If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. One common...
Analysis Article • Jul 15

Emera (TSE:EMA) Is Paying Out A Dividend Of CA$0.725

The board of Emera Incorporated ( TSE:EMA ) has announced that it will pay a dividend on the 15th of August, with...
Analysis Article • Jun 23

Emera Incorporated's (TSE:EMA) Intrinsic Value Is Potentially 40% Above Its Share Price

Key Insights Using the Dividend Discount Model, Emera fair value estimate is CA$85.40 Emera is estimated to be 29...
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New Narrative • Nov 20

Investor Day Unveils Growth With Storm Protection And Florida's Economic Surge Boosting Earnings

Infrastructure investments and new base rates are likely to enhance revenue growth and improve earnings for Emera.

Earnings and Revenue Growth Forecasts

TSX:EMA - Analysts future estimates and past financials data (CAD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20289,7411,239N/A2,8684
12/31/20279,1391,113-8092,6686
12/31/20268,3711,022N/A2,6745
12/31/20258,7761,014-1,7301,802N/A
9/30/20258,5331,100-1,2102,284N/A
6/30/20258,229876-1,2722,252N/A
3/31/20257,858870-4982,776N/A
12/31/20247,200494-5052,646N/A
9/30/20247,409629-7222,375N/A
6/30/20247,347726-4502,483N/A
3/31/20247,148625-5442,357N/A
12/31/20237,563978-6962,241N/A
9/30/20237,9491,172-1,1791,776N/A
6/30/20238,0441,238-1,7151,191N/A
3/31/20238,0061,143-1,947765N/A
12/31/20227,588945-1,683913N/A
9/30/20227,098787-1,4331,034N/A
6/30/20226,411550-1,1741,227N/A
3/31/20226,168600-9161,487N/A
12/31/20215,765511-1,1741,185N/A
9/30/20215,434458-7811,503N/A
6/30/20215,449613-7721,527N/A
3/31/20215,481688-9381,508N/A
12/31/20205,506938-9861,637N/A
9/30/20205,585858-1,3281,455N/A
6/30/20205,721829-1,2371,459N/A
3/31/20205,930874-1,0411,551N/A
12/31/20196,111663-9701,525N/A
9/30/20196,294701N/A1,607N/A
6/30/20196,490764N/A1,633N/A
3/31/20196,535750N/A1,659N/A
12/31/20186,524710N/A1,690N/A
9/30/20186,198251N/A1,545N/A
6/30/20186,130214N/A1,576N/A
3/31/20186,176225N/A1,460N/A
12/31/20176,226266N/A1,193N/A
9/30/20176,266564N/A1,227N/A
6/30/20176,227388N/A1,058N/A
3/31/20175,257495N/A1,038N/A
12/31/20164,277227N/A1,053N/A
9/30/20163,495349N/A979N/A
6/30/20162,750479N/A800N/A
3/31/20162,778281N/A735N/A
12/31/20152,789397N/A674N/A
9/30/20152,817356N/A739N/A
6/30/20152,737350N/A702N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: EMA's forecast earnings growth (8.1% per year) is above the savings rate (3%).

Earnings vs Market: EMA's earnings (8.1% per year) are forecast to grow slower than the Canadian market (10.8% per year).

High Growth Earnings: EMA's earnings are forecast to grow, but not significantly.

Revenue vs Market: EMA's revenue (2.9% per year) is forecast to grow slower than the Canadian market (4.9% per year).

High Growth Revenue: EMA's revenue (2.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: EMA's Return on Equity is forecast to be low in 3 years time (8.8%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/07 19:04
End of Day Share Price 2026/05/07 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Emera Incorporated is covered by 21 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Harshit GuptaAccountability Research Corporation
Ross FowlerBarclays
Michael LoneganBarclays