Emera (TSE:EMA) Sets New 12-Month High – Here’s What Happened

Emera Incorporated (TSE:EMA) shares reached a new 52-week high on Friday . The stock traded as high as C$53.83 and last traded at C$53.81, with a volume of 128625 shares trading hands. The stock had previously closed at C$53.49.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America set a C$55.00 price objective on shares of Emera and gave the stock a “neutral” rating in a research note on Friday, September 20th. Royal Bank of Canada lifted their price objective on shares of Emera from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Scotiabank lifted their price objective on shares of Emera from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. Raymond James lifted their price objective on shares of Emera from C$54.00 to C$57.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Finally, CIBC dropped their price objective on shares of Emera from C$51.00 to C$50.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Emera presently has a consensus rating of “Hold” and an average target price of C$52.10.

Emera Stock Performance

The stock has a market capitalization of C$15.49 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 6.20 and a beta of 0.35. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 155.62. The firm has a 50-day moving average of C$51.34 and a 200-day moving average of C$48.70.

Emera (TSE:EMA) last posted its quarterly earnings results on Friday, August 9th. The company reported C$0.53 EPS for the quarter, missing the consensus estimate of C$0.56 by C($0.03). The business had revenue of C$1.62 billion during the quarter, compared to analysts’ expectations of C$1.67 billion. Emera had a net margin of 10.83% and a return on equity of 6.60%. As a group, sell-side analysts predict that Emera Incorporated will post 3.1991627 earnings per share for the current year.

Emera Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be given a $0.725 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.90 dividend on an annualized basis and a dividend yield of 5.40%. Emera’s dividend payout ratio (DPR) is currently 112.84%.

About Emera

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.