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The Screen · Utilities · Utilities - Regulated Electric
EMAEmera Inc
EMA · the NYSE · USD · Market cap $15.0B · 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
51.19 USD
Price as of 5 Nov 2026Daily close, not a live quote
Screened 2026-11-05 · the tape above runs as of 20:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price51.19 USD at the 5 Nov 2026 close
Fair value44.37. Our model only; only one analyst covers it, too few to cross-check it.
Our value readOvervalued vs our fair value, as of 5 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.19, read 2026-11-03
Ethical does not pass the values gate
Price51.19 USD
Fair value44.37Our model only; only one analyst covers it, too few to cross-check it.
Ethical score70.0/100
Value readOvervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-30Read Markup48.99+4.5% to today ✓Distribution gives way to Markup after a 7% rise in 7 days
2026-10-23Read Distribution45.68+12.1% to today Markdown gives way to Distribution after a 6% slide in 3 weeks
2026-10-02Read Markdown48.76+5.0% to today Distribution gives way to Markdown after a 5% slide in 5 weeks
2026-08-27Read Distribution51.34-0.3% to today ✓Markdown gives way to Distribution with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Emera Inc holds its Markup at $51.19. Consolidating, no directional conviction, held for 6 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
Consolidating, no directional conviction, held for 6 days
Price at the screen
$51.19
Valuation
21.39 trailing · 18.97 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.42
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.
The Ethical Read
Why It Falls Short, in Plain English
Emera's business is in a permissible area, but its interest-bearing debt is about 48% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Our model only; only one analyst covers it, too few to cross-check it.
Our analysis reads Overvalued vs our fair value, as of 5 Nov 2026: it trades above our $44.37 fair value estimate, narrow competitive moat, 1.20% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. The price runs 15.4% above the base estimate.
Reading the gap · Both our model and the Street see limited upside at this price.
Where our models see it going: fair-value estimate $44.37, with a range of $44.37 to $50.00, dated to the 2026-11-05 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.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
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 Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-06Markup$51.19+4.5%Entry 10
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 4.5% 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 B, carrying a low risk profile. Technically it is 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.
2026-10-30Markup · changed$48.99+7.2%Entry 9
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 7.2% 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 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.
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 0.0% 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 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.
2026-10-16Markdown$45.68-6.3%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.3% 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.
2026-10-02Markdown · changed$48.76-5.0%Entry 6
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.0% 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.
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
Our analysis 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
Our analysis 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
Our analysis 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
Our analysis 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.