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

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

Analyst Ratings Changes

A number of brokerages have weighed in on EMA. National Bankshares lifted their target price on Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. Cibc World Mkts raised shares of Emera from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. CIBC increased their target price on shares of Emera from C$58.00 to C$59.00 in a report on Monday, February 24th. Wells Fargo & Company boosted their price target on shares of Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. Finally, Raymond James increased their price objective on shares of Emera from C$57.00 to C$59.00 in a research note on Monday, February 24th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$58.10.

Emera Price Performance

The firm has a market capitalization of C$17.24 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72. The business has a fifty day moving average price of C$54.90.

Emera Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors 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 4.93%. The ex-dividend date of this dividend was Friday, January 31st. Emera’s dividend payout ratio (DPR) 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.