Stan Wong Emera Inc EMA-T HOLD Mar 13, 2025

Bumps along the road, but the price has appreciated. Utilities are always levered, so as rates go up, there's more interest expense on the balance sheet and less profit hits the bottom line. Rates coming down have helped EMA's profit. Over time, expectation is that it will be the better choice. Yield is north of 5%.

Very stable business that will hold up better in the face of tariffs. Canadian utility-type business. Slow but steady dividend growth. Not cheap, but dividends will be rock-solid and even more attractive with yields low in Canada.

A boring, stable utility. Pretty much discarded last year with people chasing the AI trend. Big move since January with the flight to safety. Outlook was upgraded from Negative to Stable. Good job reducing leverage. Florida just approved storm reparation costs from 2 hurricanes in 2024.

Largest distribution utility is in Florida, where population growth has soared since pandemic. Regulator in Florida is easy to deal with. Diversified. Benefits from a risk-off mentality in the market.

Big acquisition a year ago increased presence in US, and that will be its growth driver. It's fine as an income stock, with a nice yield. But see her Top Picks.

A stable, dependable business with a good footprint in the US that will allow growth. It has room to run. The valuation is below peers and debt is much better. Can use a stop loss to lock in your gains. Or sit tight.

Likes the regulated utilities. 

Likes it. Up 21% YTD. The do what they say they're going to do. Nova Scotia now coming out of its rate freeze, should see earnings increase in 2026. Asset sales mean that debt level is OK. Dividend can still be increased, though at lower levels than historically. Has trouble trimming a name that's been really good to her, especially as she's a long-term investor.

Utilities is her favourite sector. If economy rolls over, $$ will come out of the high-torquey sectors and move to defensive.