5 stories mentioning EMAUpdated 32d ago
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Emera (EMA) said Wednesday it has completed the sale of New Mexico Gas Company to Bernhard Capital Partners.New Mexico Gas is a regulated natural gas utility based in Albuquerque, New Mexico, it said.Price: $51.05, Change: $-0.17, Percent Change: -0.33%
Energy stocks advanced late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index advanced 2.5%, and the Dow Jones US Utilities Index fell 0.6%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.West Texas Intermediate crude oil shed 0.9% to $83.71 a barrel, and global benchmark Brent fell 1.8% to $89.09 a barrel. Henry Hub natural gas futures rose 0.8% to $2.75 per 1 million BTU.US natural gas stocks rose by 28 billion cubic feet in the week ended July 24, a smaller rise than the 35 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 32 billion cubic feet in the previous week.In corporate news, Shell (SHEL) shares gained 2.7% after the company reported Q2 results that beat consensus estimates.Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon shares were up 0.4%, and Chevron added 0.3%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 2.1%.GE Vernova (GEV) is investing $166 million to expand its operations in Western Pennsylvania, Governor Josh Shapiro and Pennsylvania Department of Community and Economic Development Secretary Rick Siger said Thursday. GE Vernova shares rose past 8%.Emera (EMA) received final approval from the New Mexico Public Regulation Commission for the sale of New Mexico Gas to Bernhard Capital Partners in a $1.25 billion deal. Emera shares were up 0.2%.
Emera (EMA) received final approval from the New Mexico Public Regulation Commission for the sale of New Mexico Gas to Bernhard Capital Partners in a $1.25 billion deal.The deal is expected to close in August, Emera said Thursday in a statement.Proceeds of $650 to $700 million will be used to support investment opportunities across Emera's regulated utility businesses and help repay debt, according to the statement.Price: $54.16, Change: $+0.14, Percent Change: +0.26%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We maintain our Buy rating on EMA and maintain our target price of CAD83. The target price continues to be derived from our earnings multiple of 21.0x, applied to our 2027 adjusted EPS. We increase our 2026 EPS view by CAD0.23 to CAD3.67 and 2027's by CAD0.05 to CAD3.98. The Utilities space remains attractive as a defensively positioned sector amid inflationary macroeconomic conditions. Q1 2026 adjusted EPS of CAD1.37 exceeded expectations, and management believes 2026 adjusted EPS can exceed the 5%-7% growth guidance. All major projects are progressing as planned, and CAD870M of capital was deployed in Q1.
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Emera reported Q1 2026 adjusted EPS of CAD1.37, up 7% from the prior year, while deploying CAD870M of its CAD4.0B capital program and delivering 6% operating cash flow growth. Management expects to exceed the 5%-7% adjusted EPS growth guidance range for full-year 2026. The company announced an agreement to divest its 100% interest in Grand Bahama Power Company during the quarter. Florida Electric delivered strong performance with CAD180M in adjusted net income, up 10%, benefiting from new base rates and off-system sales at Tampa Electric. Gas Utilities contributed CAD136M, up 13%, as Peoples Gas Systems realized gains from new rate structures. Canadian Electric Utilities faced headwinds with adjusted net income of CAD86M, down 29% from CAD121M, due to lower tax recovery, elevated storm restoration costs, and higher depreciation. The stronger Canadian dollar created translation headwinds of CAD17M on adjusted net income.
