Emera Incorporated (TSE:EMA) Stock Has Average Price Target of C$76.33

Key Points

• Analysts rate Emera a “Moderate Buy”: six of nine analysts recommend buying, while three rate it a hold. The average 12-month price target is C$76.33.
• Recent analyst targets were mixed, ranging from C$72 to C$80; Emera shares opened at C$71.38.
• Emera increased its quarterly dividend to C$0.74 per share, equivalent to C$2.96 annually and a 4.1% yield. The company reported quarterly EPS of C$0.85 on C$1.98 billion in revenue.

Emera Incorporated (TSE:EMA - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$76.33.

EMA has been the subject of several research analyst reports. Raymond James Financial lifted their target price on shares of Emera from C$75.25 to C$77.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Desjardins upped their price target on shares of Emera from C$74.00 to C$76.00 and gave the company a "hold" rating in a research note on Monday. Scotiabank increased their price target on shares of Emera from C$78.00 to C$80.00 and gave the company a "sector outperform" rating in a report on Tuesday, July 21st. Canadian Imperial Bank of Commerce cut their price objective on shares of Emera from C$76.00 to C$72.00 in a research report on Tuesday, September 22nd. Finally, BMO Capital Markets boosted their price objective on Emera from C$76.00 to C$80.00 and gave the stock an "outperform" rating in a report on Wednesday, July 22nd.

Emera Trading Down 0.3%

Shares of Emera stock opened at C$71.38 on Tuesday. The business has a fifty day simple moving average of C$68.28 and a two-hundred day simple moving average of C$71.12. Emera has a 1 year low of C$64.62 and a 1 year high of C$77.99. The company has a market capitalization of C$21.92 billion, a price-to-earnings ratio of 22.66, a P/E/G ratio of 6.20 and a beta of 0.39. The company has a debt-to-equity ratio of 153.87, a current ratio of 0.73 and a quick ratio of 0.23.

Emera (TSE:EMA - Get Free Report) last released its quarterly earnings data on Friday, November 6th. The company reported C$0.85 EPS for the quarter. Emera had a net margin of 12.85% and a return on equity of 7.51%. The firm had revenue of C$1.98 billion during the quarter. Research analysts forecast that Emera will post 3.20 EPS for the current year.

Emera Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Emera's previous quarterly dividend of $0.7325. The ex-dividend date is Friday, October 30th. Emera's dividend payout ratio is 92.78%.

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.

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