Emera (TSE:EMA) Reaches New 12-Month High – Here’s Why

Emera Incorporated (TSE:EMA)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$54.30 and last traded at C$54.30, with a volume of 55846 shares. The stock had previously closed at C$53.80.

Wall Street Analysts Forecast Growth

EMA has been the subject of several research analyst reports. National Bankshares boosted their price objective on Emera from C$49.00 to C$54.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and boosted their price objective for the company from C$55.00 to C$57.00 in a research report on Monday, November 25th. Scotiabank lifted their target price on Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Royal Bank of Canada boosted their price objective on Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, CIBC raised shares of Emera from a “neutral” rating to an “outperform” rating and boosted their price target for the company from C$54.00 to C$58.00 in a report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$53.10.

Emera Stock Performance

The stock has a 50-day simple moving average of C$52.12. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62. The company has a market cap of C$15.48 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were issued a $0.725 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $2.90 annualized dividend and a yield of 5.40%. Emera’s dividend payout ratio (DPR) is 112.84%.

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.