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The Screen · Utilities · Utilities - Regulated Electric
Emera Inc
EMA · the NYSE · USD · Market cap $15.2B · 7,812 employees
Emera Incorporated, an energy and services company, invests in generation, transmission, and distribution of electricity in the United States, Canada, Barbados, and the Bahamas.
FAIL · Does not pass the screen
49.38 USD
At the last full screen 2026-09-17
Screened 2026-09-17 · the tape above runs as of 11:00 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
The Label · The Season, Not the Day
This name holds its distribution label.
Emera Inc holds its Distribution at $49.38. Consolidating, no directional conviction, held for 431 days.
As held on the ledger · 2026-09-17
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 431 days
Price at the screen
$49.38
Valuation
21.85 trailing · 18.89 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.43
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
47.89%
Below 33%
Interest-bearing debt is 47.9% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
3.60%
Below 49%
Money owed to the company is 3.6% of assets, under the 49% limit.
Pass
Revenue purity
0.42%
Below 5%
Only 0.4% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-17 screen. The gold marker is the market price at the same screen. A 3.0% margin of safety to the base estimate.
Third-party analyst targets: 2 covering, consensus Hold. The average target sits +27% from the screen price.
Reading the gap · Our more conservative model reads it as roughly fairly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-17 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Utility Lights On But Price Tag Too High
Every time a home in Florida or Nova Scotia flips a switch, Emera collects steady fees from its regulated wires and plants. The business clears a narrow moat, passes our ethical screen, and shows reliable 5 percent revenue growth with 12 percent margins. Yet at 20.9 times forward earnings the shares sit 8 percent above our fair value, leaving no margin of safety and an opportunity rating of none.
The low 8 percent return on equity does not justify the premium. Two analysts call it a hold with a 62 dollar median target, but our numbers see limited upside once the current rate environment is priced in. Regulated utilities rarely deliver surprises, and this one is already charging investors for growth it has not yet delivered.
Interest-rate pressure and modest returns remain the real constraints. A narrow moat offers stability, not outperformance, and the valuation leaves little room for error if costs rise or allowed returns fall. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Canada and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
EMA trades on the NYSE (the company is based in Canada). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 6.8% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 20%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it none, with a mean price target of $62.
2026-07-27Markdown$55.11+4.9%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 4.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 20%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it none, with a mean price target of $62.
2026-07-18Markdown$52.56+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 4% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 20%. Our forward projection puts the odds of a 10% gain over the next month near 22%. The street (2 analysts) rates it none, with a mean price target of $62.
2026-07-03Markdown$52.56+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
2026-07-02Markdown$52.56Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows excellent risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.