Emera (TSE:EMA) Price Target Cut to C$50.00

Emera (TSE:EMA) had its price target decreased by CIBC from C$51.00 to C$50.00 in a research note released on Monday, BayStreet.CA reports. CIBC currently has a neutral rating on the stock.

Several other research firms have also recently issued reports on EMA. Raymond James decreased their price objective on Emera from C$55.00 to C$54.00 in a report on Thursday, April 25th. Scotiabank decreased their price objective on Emera from C$56.00 to C$52.00 and set an outperform rating on the stock in a report on Monday, April 22nd. Wells Fargo & Company raised their price objective on Emera from C$49.00 to C$53.00 and gave the stock an equal weight rating in a report on Tuesday, May 14th. BMO Capital Markets lifted their target price on Emera from C$36.00 to C$37.00 and gave the company an outperform rating in a report on Thursday, May 30th. Finally, TD Securities reduced their target price on Emera from C$57.00 to C$54.00 and set a buy rating on the stock in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of C$50.44.

Emera Stock Performance

Emera stock opened at C$48.92 on Monday. The company has a debt-to-equity ratio of 160.58, a quick ratio of 0.23 and a current ratio of 0.73. The stock has a fifty day moving average of C$46.92 and a two-hundred day moving average of C$47.61. The company has a market capitalization of C$14.02 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 2.77 and a beta of 0.28. Emera has a fifty-two week low of C$43.67 and a fifty-two week high of C$55.74.

Emera (TSE:EMA) last released its quarterly earnings results on Monday, May 13th. The company reported C$0.76 earnings per share for the quarter, missing the consensus estimate of C$0.79 by C($0.03). Emera had a return on equity of 5.71% and a net margin of 9.69%. The company had revenue of C$2.02 billion for the quarter, compared to analysts’ expectations of C$2.04 billion. On average, analysts anticipate that Emera will post 3.0053635 EPS for the current fiscal year.

Emera Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a $0.717 dividend. This represents a $2.87 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend is Thursday, August 1st. Emera’s dividend payout ratio (DPR) is presently 128.70%.

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.