Emera (TSE:EMA) Reaches New 52-Week High – Here’s Why

Emera Incorporated (TSE:EMA)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$56.20 and last traded at C$56.00, with a volume of 69679 shares trading hands. The stock had previously closed at C$55.88.

Wall Street Analysts Forecast Growth

EMA has been the subject of a number of analyst reports. Bank of America upgraded shares of Emera from a “neutral” rating to a “buy” rating and raised their price objective for the company from C$55.00 to C$57.00 in a research note on Monday, November 25th. Royal Bank of Canada raised their price target 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 upped their price objective on Emera from C$54.00 to C$55.00 in a research report on Thursday. Cibc World Mkts raised Emera from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Scotiabank upped their price target on Emera from C$55.00 to C$60.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Emera presently has an average rating of “Moderate Buy” and a consensus target price of C$55.80.

Emera Stock Down 0.4 %

The stock has a market capitalization of C$16.04 billion, a PE ratio of 21.74, a PEG ratio of 6.20 and a beta of 0.35. The firm has a 50 day simple moving average of C$52.27. 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 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 given a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s payout ratio is currently 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.