Bullboard - Stock Discussion Forum Emera Inc T.EMA

Alternate Symbol(s): EMRAF | T.EMA.PR.A | EMRPF | T.EMA.PR.B | T.EMA.PR.C | ERRAF | T.EMA.PR.E | T.EMA.PR.F | EMICF | T.EMA.PR.H | T.EMA.PR.J | EMRJF | T.EMA.PR.L

Emera Incorporated is a geographically diverse energy and services company. It invests in regulated electricity generation and electricity and gas transmission and distribution, with a strategic focus on transformation from high carbon to low carbon energy sources. Its segments include Florida Electric Utility, Canadian Electric Utilities, Gas Utilities and Infrastructure, Other Electric... see more

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Emera Inc > Best stocks to buy for a TFSA income fund

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Post by Kittyday on Feb 24, 2021 1:26pm

Best stocks to buy for a TFSA income fund

Why Emera is a reliable income stock

Emera is a utility company based in Nova Scotia with operations in Canada, the United States, and the Caribbean. The business grows through acquisitions and organic development projects.

Emera’s current $7.4 billion capital program through 2023 is expected to generate rate-base growth of 7.5-8.5% per year over that timeframe. This should generate adequate cash flow to support annual dividend increases of 4-5% through at least 2022.

The business reported good Q4-2020 and full-year 2020 results. Adjusted net income in Q4 came in at $0.75 per share compared to $0.60 per share in the same period last year. Full-year 2020 adjusted net income was $2.68 compared with $2.59 in 2019.

The stock trades near $50 per share and offers a 5% yield at the time of writing. Emera’s share price was $60 a year ago, so there is decent upside opportunity, and you get paid well to wait for the next rebound. As the utility industry consolidates, it wouldn’t be a surprise to see Emera become a takeover target in the next few years.

To read the full article, go to;
https://www.fool.ca/2021/02/23/retirees-2-top-tsx-dividend-stocks-for-tfsa-income/

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