Emera (TSE:EMA) Reaches New 52-Week High on Analyst Upgrade

Emera Incorporated (TSE:EMA)’s stock price hit a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from C$51.00 to C$56.00. The stock traded as high as C$56.20 and last traded at C$56.00, with a volume of 69679 shares. The stock had previously closed at C$55.88.

EMA has been the subject of several other reports. Scotiabank raised their price objective on Emera from C$55.00 to C$60.00 in a research note on Thursday, December 5th. Raymond James lifted their price target on Emera from C$54.00 to C$57.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. BMO Capital Markets lifted their price target on Emera from C$54.00 to C$58.00 in a research report on Thursday, December 5th. Royal Bank of Canada lifted their price target on Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, CIBC upgraded Emera from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$54.00 to C$58.00 in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$56.10.

Emera Stock Down 0.8 %

The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62. The stock has a market cap of C$15.88 billion, a PE ratio of 21.43, a PEG ratio of 6.20 and a beta of 0.35. The company has a 50-day moving average of C$52.38.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were given a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s payout ratio is 112.84%.

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.