Scotiabank Issues Positive Forecast for Emera (TSE:EMA) Stock Price

Emera (TSE:EMA) had its target price hoisted by Scotiabank from C$60.00 to C$62.00 in a report published on Thursday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Emera from an “underperform” rating to a “neutral” rating and increased their target price for the stock from C$51.00 to C$56.00 in a report on Thursday, December 12th. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and raised their target price for the company from C$55.00 to C$57.00 in a research report on Monday, November 25th. Cibc World Mkts raised shares of Emera from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Wells Fargo & Company raised their target price on shares of Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. Finally, National Bankshares raised their target price on shares of Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$57.30.

Emera Trading Up 0.4 %

TSE EMA opened at C$55.93 on Thursday. The company’s 50-day moving average price is C$54.26 and its 200-day moving average price is C$52.39. 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 market cap of C$16.40 billion, a PE ratio of 21.68, a PEG ratio of 6.20 and a beta of 0.35. Emera has a 12 month low of C$44.13 and a 12 month high of C$56.35.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, February 14th will be issued a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Friday, January 31st. Emera’s dividend payout ratio is currently 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.