Scotiabank Trims Emera (TSE:EMA) Target Price to C$52.00

Emera (TSE:EMA) had its target price cut by Scotiabank from C$56.00 to C$52.00 in a research note released on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently commented on EMA. Raymond James dropped their price target on Emera from C$59.00 to C$55.00 in a research report on Tuesday, February 27th. National Bankshares lowered their price objective on Emera from C$50.00 to C$49.00 in a research report on Tuesday, February 27th. TD Securities lowered their price objective on Emera from C$62.00 to C$57.00 and set a buy rating on the stock in a research report on Tuesday, February 27th. CIBC lowered their price objective on Emera from C$53.00 to C$51.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. lowered their price objective on Emera from C$50.00 to C$48.00 and set an underweight rating on the stock in a research report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of C$54.50.

Emera Stock Performance

Shares of EMA opened at C$46.17 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.82 and a debt-to-equity ratio of 164.26. The business’s 50 day moving average price is C$47.58 and its 200-day moving average price is C$48.14. Emera has a 52 week low of C$43.67 and a 52 week high of C$59.52. The stock has a market cap of C$13.20 billion, a P/E ratio of 12.93, a P/E/G ratio of 2.77 and a beta of 0.28.

Emera (TSE:EMA) last issued its quarterly earnings results on Monday, February 26th. The company reported C$0.63 EPS for the quarter, missing analysts’ consensus estimates of C$0.71 by C($0.08). Emera had a return on equity of 8.88% and a net margin of 13.80%. The company had revenue of C$1.97 billion during the quarter, compared to the consensus estimate of C$1.97 billion. Equities research analysts anticipate that Emera will post 3.2788927 earnings per share for the current fiscal year.

Emera Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be paid a dividend of $0.717 per share. The ex-dividend date of this dividend is Tuesday, April 30th. This represents a $2.87 dividend on an annualized basis and a yield of 6.21%. Emera’s dividend payout ratio is presently 80.39%.

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.