Emera (TSE:EMA) Reaches New 1-Year High – What’s Next?

Emera Incorporated (TSE:EMA) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$58.46 and last traded at C$58.35, with a volume of 121355 shares changing hands. The stock had previously closed at C$57.28.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Emera from C$60.00 to C$63.00 in a research note on Monday. Wells Fargo & Company boosted their price objective on Emera from C$51.00 to C$56.00 in a research note on Monday, December 9th. National Bankshares lifted their price target on Emera from C$54.00 to C$55.00 in a research note on Thursday, December 5th. CIBC increased their price objective on Emera from C$58.00 to C$59.00 in a research note on Monday. Finally, Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$55.00 to C$57.00 in a research note on Monday, November 25th. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$58.10.

Emera Trading Up 2.0 %

The firm has a market cap of C$17.13 billion, a price-to-earnings ratio of 22.65, a PEG 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 business has a fifty day moving average of C$54.56 and a two-hundred day moving average of C$52.85.

Emera Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were given a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date of this dividend was Friday, January 31st. Emera’s payout ratio is currently 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.