Emera (TSE:EMA) Downgraded by CIBC to "Neutral"

Key Points

• CIBC has downgraded Emera from an "outperform" rating to a "neutral" rating, raising its target price to C$68.00 from C$65.00.
• Other analysts have provided a more bullish outlook, with TD Securities increasing their target price to C$74.00 and maintaining a "buy" rating.
• Emera's current average rating is "Moderate Buy" with a consensus target price of C$64.33, indicating a mixed sentiment among analysts.

CIBC cut shares of Emera (TSE:EMA - Free Report) from an outperform rating to a neutral rating in a report released on Monday,BayStreet.CA reports. The firm currently has C$68.00 price target on the stock, up from their previous price target of C$65.00.

Several other brokerages have also recently issued reports on EMA. TD Securities upped their target price on Emera from C$69.00 to C$74.00 and gave the company a "buy" rating in a report on Monday. Raymond James Financial upped their price objective on shares of Emera from C$66.00 to C$70.00 and gave the company an "outperform" rating in a report on Monday. Scotiabank lifted their target price on shares of Emera from C$67.00 to C$70.00 and gave the stock an "outperform" rating in a research note on Monday. BMO Capital Markets increased their price target on shares of Emera from C$65.00 to C$68.00 in a research note on Monday. Finally, Desjardins set a C$62.00 price target on shares of Emera and gave the stock a "hold" rating in a report on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$64.33.

Emera Price Performance

Shares of Emera stock traded up C$0.51 on Monday, hitting C$66.17. 857,542 shares of the company were exchanged, compared to its average volume of 1,277,081. Emera has a 1-year low of C$49.06 and a 1-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. The stock has a market capitalization of C$19.40 billion, a price-to-earnings ratio of 25.65, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company has a 50-day moving average price of C$62.94 and a 200 day moving average price of C$60.57.

Emera Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, August 15th will be paid a $0.725 dividend. This represents a $2.90 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, August 1st. Emera's dividend payout ratio (DPR) 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.