Core Viewpoint - Emera Inc. has demonstrated strong financial performance in 2025, leading to a positive outlook from TD Securities, which maintains a "Buy" rating and raises the price target for the stock. Group 1: Financial Performance - Emera reported its strongest year ever in 2025, driven by record capital deployment and robust performance at Tampa Electric [2][5] - The company safely deployed a record CAD 3.6 billion in capital in 2025, resulting in approximately 8% growth in the rate base compared to 2024 [3] - Emera achieved over CAD 1 billion in annual adjusted net income for the first time, with an adjusted EPS of CAD 3.49, marking a 19% year-over-year increase [3] Group 2: Market Position and Stock Performance - Emera competes with other energy firms like Fortis Inc. and Hydro One, and has a market capitalization of approximately CAD 15.26 billion [1][4] - Despite a slight decrease in stock price to $50.57, the company has seen a high of $52.15 and a low of $39.19 over the past year [4] - TD Securities has raised the price target for Emera from C$74 to C$75, reflecting confidence in the company's growth momentum entering 2026 [5]

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Core Viewpoint - FirstEnergy Corporation (FE) is expected to report its fourth-quarter 2025 results on February 17, with an earnings surprise of 9.21% in the previous quarter [1] Group 1: Q4 Expectations - The Zacks Consensus Estimate for FE's earnings is 52 cents per share, reflecting a year-over-year decline of 22.39% [2] - The Zacks Consensus Estimate for revenues is $3.24 billion, indicating a year-over-year improvement of 1.96% [2] Group 2: Factors Impacting Q4 Performance - FirstEnergy's ongoing infrastructure maintenance and upgrade projects under the Energize365 program, a $28 billion investment initiative, are expected to positively influence earnings by reducing outage frequency and duration [3] - The company is well-positioned to benefit from the increasing electricity demand from data centers in its service regions, which is likely to contribute to fourth-quarter earnings [4] - Demand from a diversified customer base and strong performance from organic assets, along with new electric rates implemented in Ohio and New Jersey in mid-2025, are anticipated to further support fourth-quarter earnings [5] Group 3: Earnings Prediction Model - The current model does not predict a definitive earnings beat for FirstEnergy, as the Earnings ESP stands at -0.26% and the company holds a Zacks Rank of 2 (Buy) [6][7]

Core Viewpoint - Eversource Energy (ES) is expected to report its fourth-quarter 2025 results on February 12, with a projected earnings per share (EPS) of $1.11, reflecting a year-over-year increase of 9.90% and revenues estimated at $3.53 billion, indicating an 18.86% improvement from the previous year [1][2]. Group 1: Q4 Expectations - The Zacks Consensus Estimate for Eversource Energy's earnings is set at $1.11 per share, which represents a year-over-year increase of 9.90% [2]. - Revenue expectations are pegged at $3.53 billion, implying an 18.86% year-over-year improvement [2]. Group 2: Factors Impacting Q4 Earnings - Eversource Energy's fourth-quarter earnings are likely to benefit from load growth driven by rising electrification and economic expansion, as well as grid modernization and decarbonization efforts [3]. - The implementation of a new gas rate of nearly $62 million by Eversource Gas Company of Massachusetts in November 2025 is expected to positively impact fourth-quarter earnings [3]. - However, the Connecticut Public Utilities Regulatory Authority's rejection of Eversource Energy's $2.4 billion sale of Aquarion Water Company may adversely affect current quarter performance and future plans [4]. - Increased operation and maintenance expenses may partially offset the positive impacts on earnings, along with a dilutive effect from a 7.1 million share equity issuance [4]. Group 3: Earnings Prediction - The company's Earnings ESP is +1.27%, indicating a favorable outlook for an earnings beat [5]. - Eversource Energy currently holds a Zacks Rank of 3, suggesting a hold position [6].

Core Insights - Great River Energy, ITC Midwest, and Xcel Energy proposed new electric transmission lines to enhance electricity reliability and connect new energy sources to the grid, submitting a Certificate of Need application for the PowerOn Midwest project to the Minnesota Public Utilities Commission [1][5] Project Overview - PowerOn Midwest includes a 765 kilovolt (kV) backbone transmission line that will connect to the existing grid in eastern South Dakota, traverse southern Minnesota, and link to the broader regional grid [2] - The 765 kV line will connect the Lakefield, Pleasant Valley, and North Rochester substations located in Jackson, Mower, and Olmstead counties in Minnesota [2] Economic and Environmental Impact - The utility partners emphasized that PowerOn Midwest is a crucial investment for Minnesota and the Upper Midwest, aiming to ensure reliable and affordable electricity, support economic growth, and provide access to lower-cost energy resources [3] - The new infrastructure is designed to accommodate energy from various sources, ensuring reliable energy delivery throughout the year [3] Regulatory and Development Timeline - The projects were part of a portfolio approved by the Midcontinent Independent System Operator (MISO) in December 2024, which included 24 transmission projects [4] - Route options are still being developed, with Route Permit applications expected to be filed with the MPUC in 2027, and construction anticipated to begin by 2030, with operations starting in 2034 [7] Additional Projects - In addition to the 765 kV line, the Certificate of Need application includes two 345 kV projects, which involve rebuilding an existing single-circuit 345 kV line and adding a second circuit to another existing line [8]

Core Viewpoint - Xcel Energy (XEL) is expected to report its fourth-quarter 2025 results on February 5, with a consensus earnings per share (EPS) estimate of 97 cents, reflecting a year-over-year increase of 19.75% and revenues projected at $3.73 billion, indicating a 19.44% increase from the previous year [1][5][8]. Factors Impacting Earnings - The anticipated earnings growth for Xcel Energy is attributed to an increase in demand from its expanding electric and natural gas customer base, supported by investments in new service centers across Minnesota [2][8]. - Positive outcomes from regulatory proceedings, including authorization to defer incremental insurance costs related to wildfire risks and recovery of operations and maintenance costs associated with wildfire mitigation, are expected to contribute positively to earnings [3][8]. Cost Considerations - Despite the positive factors, rising operation and maintenance expenses, along with increased property taxes and interest expenses, are likely to offset some of the earnings gains in the fourth quarter [4][8]. Earnings Expectations - The Zacks Consensus Estimate for Xcel Energy's EPS is set at 97 cents, which represents a year-over-year increase of 19.75%, while the revenue estimate stands at $3.73 billion, reflecting a 19.44% increase from the previous year [5][8]. Earnings Prediction Model - The current earnings prediction model indicates that Xcel Energy does not have a strong likelihood of beating earnings expectations, as it has an Earnings ESP of -1.37% and a Zacks Rank of 3 (Hold) [6][7].

Economic Overview - Consumer confidence in the U.S. has dropped to 84.5 in January, a decline of 9.7 points from the previous month, marking a 12-year low [5] - The percentage of consumers who believe jobs are "plentiful" has decreased to 23.9%, the lowest since February 2021, while 20.8% of respondents find jobs "hard to find," the highest since February 2021 [6] - The labor market has been struggling, with the unemployment rate remaining at 4.4% in December, indicating potential further increases in January due to low consumer confidence [7] - The Federal Reserve has kept interest rates unchanged amid high inflation, leading to uncertainty regarding its near-term monetary policy [8] Investment Recommendations - Investors are advised to focus on low-beta, defensive stocks from the utility, healthcare, and consumer staples sectors to mitigate market volatility [3][4] - Recommended stocks include Ameren Corporation (AEE), Fortis, Inc. (FTS), Cardinal Health, Inc. (CAH), and J&J Snack Foods Corp. (JJSF), all of which have a Zacks Rank of 1 (Strong Buy) or 2 (Buy) [3][10] Company Profiles - **Ameren Corporation (AEE)**: A utility company serving nearly 2.4 million electric and over 900,000 natural gas customers, with an expected earnings growth rate of 8.2% for the current year and a dividend yield of 2.75% [9][11] - **Fortis, Inc. (FTS)**: Engaged in electric and gas utility business, with an expected earnings growth rate of 5.4% for the current year and a dividend yield of 3.42% [12][13] - **Cardinal Health, Inc. (CAH)**: A major healthcare services provider serving nearly 90% of U.S. hospitals, with an expected earnings growth rate of 21.5% for the current year and a dividend yield of 0.95% [14][15] - **J&J Snack Foods Corp. (JJSF)**: Manufacturer and distributor of branded snack foods, with an expected earnings growth rate of 4.5% for the current year and a dividend yield of 3.37% [16][17]

Core Viewpoint - Canadian Utilities Limited has achieved a total return of over 18% since May 2025, indicating a positive shift after years of sluggish growth [1] Company Analysis - The company is recognized for its long history of dividend growth, appealing to value-oriented investors seeking high-quality stocks [1] - Dividend growth profiles are highlighted as key indicators of management's commitment to returning cash to shareholders [1] Investment Strategy - The article emphasizes the importance of building a core portfolio of dividend-paying equities to achieve retirement goals without taking on unnecessary risk [1] - It advocates for identifying quality companies with competitive advantages that provide visibility towards future cash flow growth [1] - The approach combines fundamental analysis and patience to construct a portfolio aimed at ensuring a comfortable retirement [1]

Core Insights - The article discusses the impact of ongoing inflation on the Federal Reserve's monetary policy and suggests focusing on low-beta defensive stocks to navigate market volatility [2][3][10] Economic Context - Inflation has risen, with the personal consumption expenditure (PCE) index increasing by 2.8% year-over-year in November, moving further away from the Federal Reserve's 2% target [6][8] - Personal income growth has slowed, with increases of 0.1% in October and 0.3% in November, below analysts' expectations [9] Investment Recommendations - Investors are advised to consider low-beta defensive stocks, particularly in the utility and consumer staples sectors, to mitigate market fluctuations [4][5] - Featured stocks include: - **Ameren Corp. (AEE)**: Expected earnings growth rate of 8.2%, Zacks Rank 2, beta of 0.58, dividend yield of 2.78% [12][13] - **Fortis, Inc. (FTS)**: Expected earnings growth rate of 4.2%, Zacks Rank 2, beta of 0.50, dividend yield of 3.46% [14][15] - **ONE Gas, Inc. (OGS)**: Expected earnings growth rate of 11.8%, Zacks Rank 2, beta of 0.81, dividend yield of 3.47% [16] - **Hormel Foods Corp. (HRL)**: Expected earnings growth rate of 6.6%, Zacks Rank 2, beta of 0.33, dividend yield of 4.76% [17] - **J&J Snack Foods Corp. (JJSF)**: Expected earnings growth rate of 4.5%, Zacks Rank 2, beta of 0.34, dividend yield of 3.43% [18][19]

Tokenized Financial Infrastructure - The index provides exposure to companies involved in tokenized financial infrastructure, including stablecoin issuers and tokenization platforms, with top holdings such as Nu Holdings Ltd. and Coinbase Global, Inc. [1] - Tokenized U.S. Treasuries have grown into a multi-billion-dollar market, with nearly US$10 billion issued on-chain, indicating significant potential for long-term growth [2] Regulatory Developments - The Canadian government is introducing new legislation to regulate fiat-backed stablecoins, requiring issuers to maintain adequate reserves and implement risk management frameworks [3] - Stablecorp Digital Currencies Inc. announced that its QCAD digital token is the first Canadian dollar-linked stablecoin to receive regulatory approval, highlighting the shift towards tokenization in financial technology [4] ETF Market Expansion - Harvest Portfolios Group Inc. has expanded its U.S. single-stock ETF lineup with six new funds, employing an active covered call writing strategy and leveraging around 25%, bringing its total to 25 U.S. single-stock ETFs [6][7] - Hamilton Capital Partners Inc. launched two new ETFs, including the HAMILTON CHAMPIONS U.S. Technology Index ETF, which aims to replicate the performance of a specific technology index with top holdings like Alphabet Inc. and Apple Inc. [8] Fund Closures - RPIA is closing its RP Target 2026 Discount Bond Fund, with liquidation expected to occur in an orderly fashion by March 24 [11] - Existing unitholders have the option to switch to another RPIA mutual fund or redeem their units until March 20, with waived short-term trading fees [12]