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    EMA   CA2908761018

EMERA INCORPORATED

(EMA)
  Report
Delayed Toronto Stock Exchange  -  04:16 2022-12-02 pm EST
52.33 CAD   -0.72%
11/28Emera Maintained at Buy at UBS as It Looks for Electricity Rate Hikes From Nova Scotia; Price Target Kept at C$62.00
MT
11/25Credit Suisse Lowers Emera's Price Target
MT
11/24Emera Inc. Subsidiary Nova Scotia Power Reaches Settlement Agreement on General Rate Application, Including Fuel and Non-fuel Rates for 2023 and 2024
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About 82,000 still without power in Puerto Rico two weeks after Fiona

10/06/2022 | 12:18pm EST

NEW YORK, Oct 6 (Reuters) - Around 82,000 homes and businesses were still without power in Puerto Rico on Thursday, over two weeks after Hurricane Fiona caused an island-wide outage for its 3.3 million people.

Fiona plowed into Puerto Rico on Sept. 18, about five years after Hurricane Maria also knocked out all power on the Caribbean island.

After battering Puerto Rico and the Dominican Republic, Fiona turned north and slammed into eastern Canada on Sept. 24, leaving more than a third of Nova Scotia without power.

Nova Scotia Power, a unit of Canadian energy company Emera Inc, said that about 4,200 customers remained without power early Thursday.

PowerOutage.us said that about 82,000 customers were without service in Puerto Rico Thursday afternoon, down 118,000 from early in the day, based on information from LUMA Energy, which operates the island's grid.

That pace of restoration - though slow - was faster than after Maria when almost all 1.5 million customers had no power for a week. At that time the now bankrupt Puerto Rico Electric Power Authority (PREPA) was still operating the grid.

It took PREPA about 11 months to restore power to all customers, but Maria was a much more powerful storm than Fiona.

Maria hit Puerto Rico in 2017 as a Category 4 hurricane with winds of 155 miles (249 kms) per hour (mph), while Fiona hit as a Category 1 storm with winds of 85 mph.

LUMA Energy said it restored service to 1.407 million, or about 96% of all customers by early Thursday and expects to return power to 90% of customers in the hardest hit areas by the end of the day, so long as sufficient generation is available.

LUMA is a joint venture owned by units of Canadian energy firm ATCO Ltd (50%) and U.S. energy contractor Quanta Services Inc (50%).

(Reporting by Scott DiSavino Editing by Mark Heinrich)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ATCO LTD. -0.45% 42.44 Delayed Quote.-0.61%
EMERA INCORPORATED -0.72% 52.33 Delayed Quote.-17.23%
All news about EMERA INCORPORATED
11/28Emera Maintained at Buy at UBS as It Looks for Electricity Rate Hikes From Nova Scotia;..
MT
11/25Credit Suisse Lowers Emera's Price Target
MT
11/24Emera Inc. Subsidiary Nova Scotia Power Reaches Settlement Agreement on General Rate Ap..
BU
11/21Fitch Revises Outlook for Emera, Tampa Electric, New Mexico Gas to Negative
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11/16Emera Incorporated : Code of Conduct - Form 6-K
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11/14Emera Kept at Outperform by BMO Capital Markets After Q3 Results; Price Target Trimmed ..
MT
11/14Emera Price Target Lowered to $61 at BMO
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11/14Emera Reports 2022 Third Quarter Financial Results
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11/11Emera puts clean energy projects in Nova Scotia on hold after rate cap
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11/11Emera Incorporated : November/December 2022 Investor Presentation
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Analyst Recommendations on EMERA INCORPORATED
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Financials
Sales 2022 6 843 M 5 081 M 5 081 M
Net income 2022 692 M 514 M 514 M
Net Debt 2022 18 533 M 13 761 M 13 761 M
P/E ratio 2022 19,5x
Yield 2022 5,11%
Capitalization 14 040 M 10 425 M 10 425 M
EV / Sales 2022 4,76x
EV / Sales 2023 4,70x
Nbr of Employees 7 523
Free-Float 82,2%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 52,33 CAD
Average target price 57,38 CAD
Spread / Average Target 9,64%
EPS Revisions
Managers and Directors
Scott Carlyle Balfour Chief Financial Officer & Executive Vice President
Gregory W. Blunden Vice President-Strategy & Planning
Mary Jacqueline Sheppard Independent Director
Richard C. Janega Chief Operating Officer-Electric Utilities
Andrea Sarah Rosen Independent Director
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