Emera (TSE:EMA) Stock Rating Lowered by CIBC

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 downgraded shares of Emera (TSE:EMA - Free Report) from an outperform rating to a neutral rating in a research note released on Monday morning,BayStreet.CA reports. The brokerage currently has C$68.00 price objective on the stock, up from their previous price objective of C$65.00.

Other equities analysts also recently issued research reports about the company. TD Securities increased their price target on Emera from C$69.00 to C$74.00 and gave the stock a "buy" rating in a research report on Monday. 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. BMO Capital Markets increased their price target on Emera from C$65.00 to C$68.00 in a research report on Monday. Scotiabank increased their price target on Emera from C$67.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Royal Bank Of Canada increased their price target on Emera from C$69.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$64.33.

Emera Stock Up 1.4%

Shares of EMA traded up C$0.88 during midday trading on Monday, reaching C$65.66. 1,244,960 shares of the stock were exchanged, compared to its average volume of 1,279,771. Emera has a 52 week low of C$49.06 and a 52 week high of C$67.42. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. The company's 50 day moving average is C$62.82 and its two-hundred day moving average is C$60.49. The company has a market capitalization of C$19.25 billion, a P/E ratio of 25.45, a PEG ratio of 6.20 and a beta of 0.35.

Emera Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, August 15th will be given a dividend of $0.725 per share. The ex-dividend date of this dividend is Friday, August 1st. This represents a $2.90 dividend on an annualized basis and a yield of 4.4%. Emera's dividend payout ratio (DPR) is presently 112.40%.

About Emera

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.