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

Emera Incorporated (TSE:EMA)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$54.30 and last traded at C$54.30, with a volume of 55846 shares traded. The stock had previously closed at C$53.80.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on EMA. Scotiabank upped their target price on shares of Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and lifted their price target for the company from C$55.00 to C$57.00 in a report on Monday, November 25th. CIBC raised Emera from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from C$54.00 to C$58.00 in a report on Monday. Raymond James raised their price target on Emera from C$54.00 to C$57.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, National Bankshares raised their target price on 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$53.10.

Emera Stock Down 0.3 %

The company has a market cap of C$15.48 billion, a PE ratio of 21.00, a P/E/G ratio of 6.20 and a beta of 0.35. The business has a fifty day moving average price of C$52.12. The company has a current ratio of 0.79, a quick ratio of 0.23 and a debt-to-equity ratio of 155.62.

Emera Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were paid a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s payout ratio 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.