Raymond James Raises Emera (TSE:EMA) Price Target to C$57.00

Emera (TSE:EMA) had its price objective boosted by Raymond James from C$54.00 to C$57.00 in a research note issued to investors on Monday morning, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Several other research analysts have also issued reports on EMA. CIBC reduced their target price on Emera from C$51.00 to C$50.00 and set a neutral rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Emera from C$45.00 to C$46.00 in a research report on Thursday, July 25th. Scotiabank decreased their price target on shares of Emera from C$56.00 to C$52.00 and set an outperform rating on the stock in a research note on Monday, April 22nd. National Bankshares lifted their price target on shares of Emera from C$48.00 to C$49.00 and gave the company a sector perform rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada cut their target price on Emera from C$60.00 to C$57.00 and set an outperform rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of C$50.56.

Emera Price Performance

TSE EMA opened at C$49.62 on Monday. The company has a market cap of C$14.22 billion, a PE ratio of 22.25, a P/E/G ratio of 2.77 and a beta of 0.28. Emera has a 52-week low of C$43.67 and a 52-week high of C$52.31. The company has a debt-to-equity ratio of 160.58, a quick ratio of 0.23 and a current ratio of 0.73. The firm’s 50 day moving average price is C$47.13 and its 200-day moving average price is C$47.52.

Emera (TSE:EMA) last announced its quarterly earnings results on Monday, May 13th. The company reported C$0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.79 by C($0.03). Emera had a net margin of 9.69% and a return on equity of 5.71%. The company had revenue of C$2.02 billion during the quarter, compared to analysts’ expectations of C$2.04 billion. Sell-side analysts forecast that Emera will post 3.0053635 EPS for the current fiscal year.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.717 per share. This represents a $2.87 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend is Thursday, August 1st. Emera’s dividend payout ratio (DPR) is presently 128.70%.

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.