Emera (TSE:EMA) Stock Price Expected to Rise, Scotiabank Analyst Says

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 raised by Scotiabank from C$67.00 to C$70.00 in a research report released on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on EMA. CIBC raised 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. Raymond James Financial lowered their price target on Emera from C$64.00 to C$59.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. Desjardins set a C$62.00 price objective on shares of Emera and gave the company a "hold" rating in a research report on Tuesday, May 6th. BMO Capital Markets raised their target price on shares of Emera from C$65.00 to C$68.00 in a report on Monday. Finally, TD Securities lifted their price target on shares of Emera from C$69.00 to C$74.00 and gave the stock a "buy" rating in a research note on Monday. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$64.33.

Emera Price Performance

EMA traded up C$0.51 during trading hours on Monday, hitting C$66.17. The company's stock had a trading volume of 857,542 shares, compared to its average volume of 1,277,081. The stock has a market cap of C$19.40 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 6.20 and a beta of 0.35. The business's 50-day moving average price is C$62.94 and its 200-day moving average price is C$60.57. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. Emera has a 12 month low of C$49.06 and a 12 month high of C$67.42.

Emera Dividend Announcement

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