Emera (TSE:EMA) Hits New 1-Year Low Following Analyst Downgrade

Emera Incorporated (TSE:EMA)’s stock price reached a new 52-week low on Thursday after TD lowered their price target on the stock from C$79.00 to C$75.00. TD currently has a buy rating on the stock. Emera traded as low as C$64.66 and last traded at C$64.93, with a volume of 520471 shares changing hands. The stock had previously closed at C$65.36.

EMA has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price on shares of Emera from C$73.00 to C$79.00 in a report on Tuesday, July 21st. Royal Bank Of Canada lifted their price objective on Emera from C$76.00 to C$84.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Desjardins increased their target price on Emera from C$70.00 to C$74.00 and gave the stock a “hold” rating in a research note on Monday, July 20th. Scotiabank raised their price target on Emera from C$78.00 to C$80.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. Finally, BMO Capital Markets upped their price target on shares of Emera from C$76.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Emera currently has an average rating of “Moderate Buy” and an average target price of C$76.33.

Emera Price Performance

The firm has a fifty day moving average of C$69.79 and a 200 day moving average of C$72.04. The company has a market capitalization of C$19.88 billion, a P/E ratio of 20.55, a P/E/G ratio of 6.20 and a beta of 0.42. The company has a current ratio of 0.73, a quick ratio of 0.23 and a debt-to-equity ratio of 153.87.

Emera (TSE:EMA) last posted its earnings results on Friday, August 7th. The company reported C$0.69 earnings per share (EPS) for the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. The business had revenue of C$2.01 billion for the quarter. On average, equities research analysts anticipate that Emera Incorporated will post 3.1991627 EPS for the current year.

Emera Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 17th were given a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Friday, July 31st. Emera’s payout ratio is 92.78%.

About Emera

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.