Emera (TSE:EMA) Upgraded to Outperform at CIBC

CIBC upgraded shares of Emera (TSE:EMA) from a neutral rating to an outperform rating in a research report sent to investors on Monday morning,BayStreet.CA reports. CIBC currently has C$58.00 target price on the stock, up from their previous target price of C$54.00.

Other analysts have also issued reports about the stock. Royal Bank of Canada lifted their target price on shares of Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. National Bankshares boosted their price target on shares of Emera from C$49.00 to C$54.00 and gave the company a “sector perform” rating in a research report 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 company an “outperform” rating in a research report on Monday, August 12th. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and boosted their target price for the stock from C$55.00 to C$57.00 in a research note on Monday, November 25th. Finally, Scotiabank boosted their price target on shares of Emera from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$53.10.

Emera Stock Performance

TSE:EMA opened at C$55.13 on Monday. The firm’s 50-day moving average is C$52.14 and its 200-day moving average is C$49.77. Emera has a 52-week low of C$44.13 and a 52-week high of C$55.29. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79. The company has a market cap of C$15.90 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were issued a $0.725 dividend. This represents a $2.90 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s dividend payout ratio (DPR) is presently 112.84%.

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.