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

Emera Incorporated (TSE:EMA)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as C$59.96 and last traded at C$59.92, with a volume of 394577 shares changing hands. The stock had previously closed at C$59.23.

Wall Street Analysts Forecast Growth

EMA has been the subject of a number of research analyst reports. National Bankshares lifted their price target on shares of Emera from C$54.00 to C$55.00 in a research note on Thursday, December 5th. CIBC upped their target price on shares of Emera from C$58.00 to C$59.00 in a research note on Monday, February 24th. Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Scotiabank lifted their target price on Emera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company raised their price target on Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.18.

Emera Stock Up 1.8 %

The firm has a market capitalization of C$17.69 billion, a P/E ratio of 23.38, a PEG ratio of 6.20 and a beta of 0.35. The firm’s fifty day moving average price is C$57.10 and its 200-day moving average price is C$54.27. The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23.

Emera Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 14th were paid a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date was Friday, January 31st. Emera’s dividend payout ratio is presently 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.