Emera (TSE:EMA) Reaches New 1-Year High – Time to Buy?

Shares of Emera Incorporated (TSE:EMA) reached a new 52-week high on Monday . The stock traded as high as C$59.75 and last traded at C$59.51, with a volume of 417727 shares traded. The stock had previously closed at C$58.95.

Analyst Upgrades and Downgrades

EMA has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. Scotiabank increased their target price on shares of Emera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$55.00 to C$57.00 in a research report on Monday, November 25th. BMO Capital Markets upped their target price on Emera from C$58.00 to C$60.00 in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. upgraded Emera from an “underperform” rating to a “neutral” rating and raised their price target for the company from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Emera currently has a consensus rating of “Moderate Buy” and a consensus price target of C$58.10.

Emera Trading Down 0.7 %

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 stock 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 business has a fifty day simple moving average of C$55.52 and a 200 day simple moving average of C$53.49.

Emera Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were paid a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Friday, January 31st. Emera’s dividend payout ratio (DPR) is 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.