Emera (TSE:EMA) Reaches New 52-Week High – What’s Next?

Emera Incorporated (TSE:EMA)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$59.75 and last traded at C$59.51, with a volume of 417727 shares traded. The stock had previously closed at C$58.95.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EMA. Cibc World Mkts raised shares of Emera from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Scotiabank boosted their price target on Emera from C$60.00 to C$62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. BMO Capital Markets increased their price objective on Emera from C$58.00 to C$60.00 in a research note on Monday, February 24th. Bank of America upgraded shares of Emera from a “neutral” rating to a “buy” rating and boosted their price target for the company from C$55.00 to C$57.00 in a research report on Monday, November 25th. Finally, Royal Bank of Canada lifted their target price on shares of Emera from C$60.00 to C$63.00 in a research note on Monday, February 24th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Emera presently has an average rating of “Moderate Buy” and an average price target of C$58.10.

Emera Stock Down 0.7 %

The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23. The firm has a market cap of C$17.24 billion, a P/E ratio of 22.78, a P/E/G ratio of 6.20 and a beta of 0.35. The business has a fifty day moving average of C$55.52 and a 200 day moving average of C$53.49.

Emera Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 14th were issued a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, January 31st. Emera’s dividend payout ratio (DPR) is presently 112.40%.

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.