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Emera Inc. Q2-2018 Earnings & Price Target Update

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Emera Inc. is an energy and services company investing in electricity generation, transmission and distribution, as well as gas transmission and utility services in the Maritimes, Maine, Florida, Texas, New Mexico and the Bahamas with $30B in assets and $6.5B in projected revenues 2018. Revenues are earned from six operating segments comprise of Teco Energy in Florida and New Mexico(50% of revenues), Nova Scotia Power Inc. (20%), Emera Maine (10% of revenues) and Emera Caribbean(5%) and Emera Energy Trading(15%). The Teco Energy acquisition added $13B in assets for 2017. Assets have increased from $12B as of Dec-31-2015 mainly the acquisition of TECO Energy in the US in 2016. They now earn approximately 70% of AFFO in US dollars.

Nova Scotia Power Corp. was created in 1992 through the privatization of the Crown Corporation Nova Scotia Power Corporation. NSPI is a fully-integrated regulated electric utility and is the primary electricity supplier in Nova Scotia. NSPI's target regulated return on equity range is currently 8.75% - 9.25%.NSPI provides electricity generation, transmission and distribution services to approximately 500,000 customers. NSPI through the Emera Energy segment, owns or has under contract 2,483 MW of generating capacity, of which 50% is coal-fired; 28% is natural gas and/or oil; 19% hydro and wind 3% is biomass-fueled generation. In addition, NSPI has contracts to purchase renewable energy from independent power producers who own and operate 496 MW of wind and biomass fueled generation capacity. NSPI also owns 5,000 km of transmission facilities and 27,000 km of distribution facilities.

Teco Energy Acquisition

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