Emera (TSE:EMA) Price Target Raised to C$70.00 at Scotiabank

Key Points

• Scotiabank has increased Emera's price target from C$67.00 to C$70.00, indicating a potential upside of 6.45% based on the company's current stock price.
• Multiple analysts have varying ratings on Emera, with four holding a 'hold' rating, six a 'buy' rating, and one a 'strong buy' rating.
• Emera's current stock price is C$65.76, down C$1.15 from the previous trading session, with significant trading volume of 237,655 shares.

Emera (TSE:EMA - Free Report) had its price objective upped by Scotiabank from C$67.00 to C$70.00 in a report issued on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

EMA has been the subject of a number of other reports. Raymond James Financial cut their price target on Emera from C$64.00 to C$59.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. CIBC boosted their price objective on Emera from C$63.00 to C$64.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. BMO Capital Markets boosted their price objective on Emera from C$65.00 to C$68.00 in a research note on Monday. Royal Bank Of Canada boosted their price objective on Emera from C$69.00 to C$70.00 and gave the company an "outperform" rating in a research note on Monday. Finally, TD Securities boosted their price objective on Emera from C$69.00 to C$74.00 and gave the company a "buy" rating in a research note on Monday. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Emera presently has a consensus rating of "Moderate Buy" and an average price target of C$64.33.

Emera Stock Performance

Shares of Emera stock traded up C$0.88 during trading hours on Monday, reaching C$65.66. 1,244,960 shares of the stock traded hands, compared to its average volume of 1,279,771. The company has a 50 day moving average price of C$62.82 and a 200 day moving average price of C$60.49. The firm has a market capitalization of C$19.25 billion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 6.20 and a beta of 0.35. Emera has a one year low of C$49.06 and a one year high of C$67.42. The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23.

Emera Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be paid a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 4.4%. The ex-dividend date is Friday, August 1st. Emera's dividend payout ratio is presently 112.40%.

Emera Company Profile

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.