Emera (TSE:EMA) Reaches New 1-Year High on Analyst Upgrade

Emera Incorporated (TSE:EMA) 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. The stock had previously closed at C$55.72.

EMA has been the topic of several other research reports. JPMorgan Chase & Co. upgraded Emera from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from C$51.00 to C$56.00 in a report on Thursday, December 12th. BMO Capital Markets lifted their price target on Emera from C$54.00 to C$58.00 in a report on Thursday, December 5th. Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. National Bankshares lifted their price target on Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Finally, CIBC upgraded Emera from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from C$54.00 to C$58.00 in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$57.30.

Emera Stock Performance

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

Emera Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were given a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 5.13%. The ex-dividend date was Friday, January 31st. Emera’s dividend payout ratio is currently 112.40%.

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.