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    What Emera (TSX:EMA)'s New At-the-Market Equity Program and Insider Buying Move Means For Shareholders

    Simply Wall St·12/16/2025 01:25:04
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    • Emera Incorporated recently filed a CAD 600 million at-the-market follow-on equity offering for its common shares and, shortly after, Senior Officer Jared Blake Green acquired 5,000 common shares through direct ownership.
    • The combination of fresh equity capacity and insider buying highlights how Emera’s leadership is aligning personal capital with the company’s long-term capital plan and growth ambitions.
    • With this insider purchase as a focal point, we’ll explore how the new equity program may reshape Emera’s investment narrative.

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    Emera Investment Narrative Recap

    To own Emera, you need to be comfortable with a regulated utility that relies on steady rate base growth while managing heavy capital needs and meaningful refinancing ahead. The new CA$600 million at the market equity program slightly eases balance sheet pressure in the near term, but the key short term catalyst remains execution on growth projects, while the largest risk is still higher refinancing costs on the sizeable 2026 debt obligations.

    Among recent announcements, the third quarter 2025 results, with higher revenue and improved net income versus the prior year, are most relevant here. Stronger earnings support Emera’s ability to fund its capital plan alongside fresh equity capacity, which may help the company keep investing in grid modernization and Florida solar expansion without overextending its balance sheet as electrification and potential data center demand emerge.

    Yet investors should be aware that the real test will come when those large 2026 debt maturities need to be refinanced...

    Read the full narrative on Emera (it's free!)

    Emera's narrative projects CA$8.7 billion revenue and CA$1.1 billion earnings by 2028. This requires 1.8% yearly revenue growth and an earnings increase of about CA$224 million from CA$875.6 million today.

    Uncover how Emera's forecasts yield a CA$68.50 fair value, a 3% upside to its current price.

    Exploring Other Perspectives

    TSX:EMA 1-Year Stock Price Chart
    TSX:EMA 1-Year Stock Price Chart

    Five fair value estimates from the Simply Wall St Community span roughly CA$45.79 to CA$87.84, underscoring how far apart individual views can be. As you weigh those opinions against Emera’s need to fund growth while refinancing sizeable 2026 debt, it is worth exploring several perspectives on how that balance sheet risk could affect long term performance.

    Explore 5 other fair value estimates on Emera - why the stock might be worth as much as 32% more than the current price!

    Build Your Own Emera Narrative

    Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.