Emera (TSE:EMA) Sets New 1-Year High – Here’s What Happened

Emera Incorporated (TSE:EMA) reached a new 52-week high on Tuesday . The stock traded as high as C$77.92 and last traded at C$77.91, with a volume of 64888 shares trading hands. The stock had previously closed at C$76.75.

Wall Street Analyst Weigh In

EMA has been the topic of a number of research reports. Scotiabank lifted their price objective on Emera from C$78.00 to C$80.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. increased their target price on Emera from C$73.00 to C$79.00 in a research report on Tuesday, July 21st. BMO Capital Markets raised their target price on shares of Emera from C$76.00 to C$80.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. National Bank Financial boosted their price target on shares of Emera from C$69.00 to C$75.00 and gave the stock a “sector perform” rating in a research report on Monday, June 1st. Finally, Raymond James Financial upped their price target on shares of Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$75.77.

Emera Trading Up 0.5%

The firm has a market cap of C$23.60 billion, a PE ratio of 23.59, a P/E/G ratio of 6.20 and a beta of 0.57. The company has a quick ratio of 0.23, a current ratio of 1.07 and a debt-to-equity ratio of 168.83. The company’s 50 day moving average price is C$74.27 and its two-hundred day moving average price is C$71.80.

Emera (TSE:EMA) last released its quarterly earnings results on Friday, May 8th. The company reported C$1.37 EPS for the quarter. Emera had a net margin of 13.20% and a return on equity of 7.90%. The firm had revenue of C$2.81 billion during the quarter. As a group, sell-side analysts forecast that Emera Incorporated will post 3.1991627 EPS for the current year.

Emera Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be given a dividend of $0.7325 per share. This represents a $2.93 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, July 31st. Emera’s payout ratio is 89.14%.

Insider Activity at Emera

In other news, insider Richard Janega sold 16,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the transaction, the insider owned 19,642 shares of the company’s stock, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their ownership of the stock. Corporate insiders own 0.09% of the company’s stock.

Emera Company Profile

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.