Emera: The Utility Serving Florida's Fast-Growing Energy Needs, Buy
2025-11-18 04:13:21 ET
Author's note: All figures listed in Canadian currency unless otherwise noted.
Investment Thesis
Year to date, shares of Emera Inc. (EMA) ( EMA:CA ) are up 28%, well ahead of the S&P/TSX Capped Utilities Index ETF, which returned approximately 17% YTD in 2025. In November 2025, Emera announced the company's new $20B five-year capital plan. The majority of this capital investment will be deployed in Florida, between Emera's crown jewel assets, Tampa Electric Company and Peoples Gas. A permissive regulatory environment in Florida has enabled utilities to earn authorized ROE above the national average. Strong economic and migration growth in Florida supports robust growth in demand for energy. In 2024, Florida was the #1 state for net migration and #2 for overall population growth....
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Emera: The Utility Serving Florida's Fast-Growing Energy Needs, Buy
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