Emera (TSE:EMA) Price Target Raised to C$59.00 at CIBC

Emera (TSE:EMA) had its target price increased by CIBC from C$58.00 to C$59.00 in a research note published on Monday morning,BayStreet.CA reports.

A number of other research analysts have also recently issued reports on the company. Wells Fargo & Company raised their price objective on Emera from C$51.00 to C$56.00 in a research note on Monday, December 9th. National Bankshares increased their target price on shares of Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Scotiabank increased their target price on shares of Emera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Emera from an “underperform” rating to a “neutral” rating and increased their target price for the stock from C$51.00 to C$56.00 in a report on Thursday, December 12th. Finally, Bank of America upgraded shares of Emera from a “neutral” rating to a “buy” rating and increased their target price for the stock from C$55.00 to C$57.00 in a report on Monday, November 25th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$58.10.

Emera Stock Up 1.4 %

Shares of TSE:EMA opened at C$58.10 on Monday. The stock’s 50-day moving average price is C$54.65 and its 200-day moving average price is C$52.88. Emera has a 12-month low of C$44.13 and a 12-month high of C$58.73. The stock has a market capitalization of C$17.04 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23.

Emera Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were issued a $0.725 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.90 annualized dividend and a yield of 4.99%. Emera’s dividend payout ratio (DPR) is presently 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.