Emera (TSE:EMA) Reaches New 52-Week High - Time to Buy?

Key Points

• Emera Incorporated shares hit a new 52-week high of C$64.78, with the last traded price at C$64.61.
• Recent analyst ratings show a mix, with BMO Capital Markets raising their target price to C$65.00 and TD Securities upgrading to a "strong-buy" at C$69.00.
• Emera announced a quarterly dividend of $0.725 per share, reflecting an annual yield of 4.48%, with a payout ratio of 112.40%.

Emera Incorporated (TSE:EMA - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as C$64.78 and last traded at C$64.61, with a volume of 45971 shares traded. The stock had previously closed at C$64.20.

Analysts Set New Price Targets

EMA has been the subject of a number of research reports. BMO Capital Markets lifted their target price on Emera from C$60.00 to C$65.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. TD Securities upgraded Emera to a "strong-buy" rating and set a C$69.00 price target on the stock in a research report on Friday, June 27th. CIBC raised their price target on Emera from C$63.00 to C$64.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Raymond James Financial decreased their price target on Emera from C$64.00 to C$59.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Finally, Desjardins set a C$62.00 price target on Emera and gave the stock a "hold" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$60.58.

Emera Stock Performance

The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23. The stock has a market cap of C$18.94 billion, a price-to-earnings ratio of 25.04, a P/E/G ratio of 6.20 and a beta of 0.35. The company has a 50 day simple moving average of C$62.19 and a 200 day simple moving average of C$59.69.

Emera Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.725 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.90 annualized dividend and a yield of 4.5%. Emera's 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.