Emera (TSE:EMA) Reaches New 1-Year High – Still a Buy?

Emera Incorporated (TSE:EMA)’s stock price hit a new 52-week high on Monday . The company traded as high as C$59.75 and last traded at C$59.51, with a volume of 417727 shares changing hands. The stock had previously closed at C$58.95.

Wall Street Analyst Weigh In

EMA has been the subject of several research reports. Raymond James raised their price objective on shares of Emera from C$57.00 to C$59.00 in a research report on Monday, February 24th. BMO Capital Markets boosted their price objective on shares of Emera from C$58.00 to C$60.00 in a research report on Monday, February 24th. Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. raised Emera from an “underperform” rating to a “neutral” rating and lifted their target price for the company from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Finally, National Bankshares upped their price target on Emera from C$54.00 to C$55.00 in a research note on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.10.

Emera Stock Up 1.1 %

The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. The stock has a fifty day moving average price of C$55.30. The company has a market cap of C$17.48 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 6.20 and a beta of 0.35.

Emera Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were paid a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a yield of 4.86%. The ex-dividend date of this dividend was Friday, January 31st. Emera’s dividend payout ratio is currently 112.40%.

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.