Emera (TSE:EMA) Hits New 52-Week High – What’s Next?

Emera Incorporated (TSE:EMA)’s share price reached a new 52-week high on Thursday . The stock traded as high as C$56.35 and last traded at C$56.22, with a volume of 113745 shares traded. The stock had previously closed at C$55.72.

Analysts Set New Price Targets

Several research firms recently issued reports on EMA. BMO Capital Markets lifted their price objective on Emera from C$54.00 to C$58.00 in a research note on Thursday, December 5th. Wells Fargo & Company boosted their price objective on Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. National Bankshares raised their target price on shares of Emera from C$54.00 to C$55.00 in a research note on Thursday, December 5th. 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 note on Monday, November 25th. Finally, Scotiabank raised their price objective on shares of Emera from C$55.00 to C$60.00 in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued 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$57.10.

Emera Price Performance

The firm’s fifty day moving average price is C$54.24 and its 200-day moving average price is C$52.33. The stock has a market cap of C$16.19 billion, a P/E ratio of 21.84, a PEG ratio of 6.20 and a beta of 0.35. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62.

Emera Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, February 14th will be given a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date is Friday, January 31st. Emera’s payout ratio is 112.84%.

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.