Emera (TSE:EMA) Price Target Raised to C$63.00

Emera (TSE:EMA) had its price objective increased by CIBC from C$59.00 to C$63.00 in a research note released on Friday morning,BayStreet.CA reports.

A number of other equities analysts also recently commented on the company. JPMorgan Chase & Co. upgraded Emera from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Royal Bank of Canada lifted their target price on Emera from C$60.00 to C$63.00 in a research report on Monday, February 24th. Wells Fargo & Company upped their price target on Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. BMO Capital Markets raised their price objective on Emera from C$58.00 to C$60.00 in a research note on Monday, February 24th. Finally, Scotiabank boosted their target price on shares of Emera from C$60.00 to C$62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Three equities 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. According to MarketBeat.com, Emera has an average rating of “Moderate Buy” and an average target price of C$58.55.

Emera Price Performance

Shares of EMA stock opened at C$60.85 on Friday. The business’s fifty day moving average is C$57.81. The firm has a market cap of C$17.84 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 6.20 and a beta of 0.35. Emera has a 1-year low of C$44.13 and a 1-year high of C$63.13. The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72.

Emera Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.725 per share. The ex-dividend date was Friday, January 31st. This represents a $2.90 annualized dividend and a dividend yield of 4.77%. Emera’s dividend payout ratio is currently 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.