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

Emera Incorporated (TSE:EMA)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$59.00 and last traded at C$58.78, with a volume of 977305 shares trading hands. The stock had previously closed at C$57.86.

Analyst Upgrades and Downgrades

Several research firms have commented on EMA. CIBC increased their price objective on shares of Emera from C$58.00 to C$59.00 in a research report on Monday, February 24th. Scotiabank increased their price target on shares of Emera from C$60.00 to C$62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Bank of America upgraded Emera from a “neutral” rating to a “buy” rating and lifted their price target for the stock from C$55.00 to C$57.00 in a research report on Monday, November 25th. Royal Bank of Canada upped their price objective on Emera from C$60.00 to C$63.00 in a research report on Monday, February 24th. Finally, Raymond James lifted their target price on Emera from C$57.00 to C$59.00 in a report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$58.10.

Emera Trading Up 1.6 %

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’s 50-day simple moving average is C$54.90. The firm has a market capitalization of C$17.24 billion, a P/E ratio of 22.78, a P/E/G ratio of 6.20 and a beta of 0.35.

Emera Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 14th were issued a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, January 31st. Emera’s payout ratio is presently 112.40%.

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.