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

Emera Incorporated (TSE:EMA)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as C$62.48 and last traded at C$61.89, with a volume of 119552 shares changing hands. The stock had previously closed at C$60.91.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Scotiabank lifted their price target on shares of Emera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. UBS Group boosted their target price on Emera from C$54.00 to C$59.00 in a research note on Friday, March 21st. National Bankshares raised their price target on Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. BMO Capital Markets boosted their price objective on Emera from C$58.00 to C$60.00 in a research report on Monday, February 24th. Finally, Raymond James raised their target price on shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$58.18.

Emera Stock Up 1.5 %

The firm’s 50 day moving average price is C$57.52 and its two-hundred day moving average price is C$54.46. 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 company has a market capitalization of C$18.12 billion, a P/E ratio of 23.95, a PEG ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The firm 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. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.90 annualized dividend and a yield of 4.69%. Emera’s 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.