Emera (TSE:EMA) Reaches New 52-Week High – Time to Buy?

Shares of Emera Incorporated (TSE:EMA) hit a new 52-week high on Wednesday . The company traded as high as C$58.46 and last traded at C$58.35, with a volume of 121355 shares. The stock had previously closed at C$57.28.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EMA shares. Wells Fargo & Company increased their price objective on shares of Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. Royal Bank of Canada raised their price target on shares of Emera from C$60.00 to C$63.00 in a report on Monday. Raymond James boosted their price objective on shares of Emera from C$57.00 to C$59.00 in a report on Monday. Cibc World Mkts upgraded Emera from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, National Bankshares lifted their price target on Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$58.10.

Emera Stock Up 2.0 %

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 firm has a market cap of C$17.13 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 6.20 and a beta of 0.35. The business’s 50 day moving average price is C$54.56 and its 200 day moving average price is C$52.85.

Emera Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were given a $0.725 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.96%. Emera’s dividend payout ratio (DPR) is currently 112.40%.

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.