Emera (TSE:EMA) Raised to Buy at Bank of America

Bank of America upgraded shares of Emera (TSE:EMA) from a neutral rating to a buy rating in a report released on Monday morning,BayStreet.CA reports. They currently have C$57.00 price objective on the stock, up from their prior price objective of C$55.00.

EMA has been the topic of a number of other reports. National Bankshares lifted their price objective on shares of Emera from C$49.00 to C$54.00 and gave the company a “sector perform” rating in a research note on Friday, August 23rd. Raymond James boosted their price target on shares of Emera from C$54.00 to C$57.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. Royal Bank of Canada increased their price objective on shares of Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Scotiabank boosted their target price on Emera from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$52.30.

Emera Stock Down 0.4 %

EMA opened at C$53.35 on Monday. The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23. Emera has a 12 month low of C$44.13 and a 12 month high of C$54.19. The stock’s 50 day moving average price is C$52.10 and its 200 day moving average price is C$49.60. The stock has a market cap of C$15.39 billion, a P/E ratio of 20.86, a P/E/G ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were paid a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s dividend payout ratio is presently 112.84%.

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.