Emera (TSE:EMA) Reaches New 12-Month High After Analyst Upgrade

Emera Incorporated (TSE:EMA)’s share price reached a new 52-week high during trading on Thursday after Scotiabank raised their price target on the stock from C$60.00 to C$62.00. Scotiabank currently has an outperform rating on the stock. Emera traded as high as C$56.35 and last traded at C$56.22, with a volume of 113745 shares changing hands. The stock had previously closed at C$55.72.

A number of other analysts have also recently commented on EMA. CIBC upgraded Emera from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$54.00 to C$58.00 in a research report on Monday, December 2nd. BMO Capital Markets boosted their price target on Emera from C$54.00 to C$58.00 in a report on Thursday, December 5th. National Bankshares boosted their price target on Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Wells Fargo & Company boosted their price target on Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. Finally, Bank of America raised Emera from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$55.00 to C$57.00 in a report on Monday, November 25th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$57.30.

Emera Stock Performance

The stock has a market cap of C$16.58 billion, a P/E ratio of 21.91, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23. The business has a 50 day moving average price of C$54.27 and a two-hundred day moving average price of C$52.45.

Emera Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 14th were paid a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend was Friday, January 31st. Emera’s dividend payout ratio (DPR) is 112.40%.

Emera Company Profile

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.