Emera (TSE:EMA) Reaches New 12-Month High - Should You Buy?

Key Points

• Shares of Emera Incorporated reached a new 52-week high of C$69.13, showing strong trading volume of 164,452 shares.
• Analysts have raised their price targets for Emera, with BMO Capital Markets increasing it to C$68.00 and TD Securities to C$74.00, while maintaining a consensus rating of "Moderate Buy".
• Emera recently announced a quarterly dividend of $0.725 per share, reflecting an annualized dividend yield of 4.2% and a payout ratio of 98.05%.

Shares of Emera Incorporated (TSE:EMA - Get Free Report) reached a new 52-week high on Friday . The company traded as high as C$69.13 and last traded at C$69.13, with a volume of 164452 shares traded. The stock had previously closed at C$68.77.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EMA shares. Raymond James Financial lifted their price objective on shares of Emera from C$66.00 to C$70.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. BMO Capital Markets raised their price target on shares of Emera from C$65.00 to C$68.00 in a research report on Monday, August 11th. Scotiabank raised their price target on shares of Emera from C$70.00 to C$72.00 and gave the stock an "outperform" rating in a research report on Monday, October 6th. TD Securities raised 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 report on Monday, August 11th. Finally, CIBC downgraded shares of Emera from an "outperform" rating to a "neutral" rating and raised their price target for the stock from C$65.00 to C$68.00 in a research report on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$64.50.

Emera Price 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 company has a market capitalization of C$20.63 billion, a P/E ratio of 23.37, a PEG ratio of 6.20 and a beta of 0.46. The business has a 50 day simple moving average of C$65.79 and a 200-day simple moving average of C$63.05.

Emera Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, August 15th were paid a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, August 1st. Emera's payout ratio is currently 98.05%.

Insider Transactions at Emera

In related news, Director Archibald Collins sold 30,600 shares of Emera stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of C$64.95, for a total transaction of C$1,987,470.00. Following the sale, the director directly owned 13,045 shares in the company, valued at C$847,272.75. The trade was a 70.11% decrease in their ownership of the stock. Also, Director Judy Ann Steele sold 794 shares of Emera stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of C$64.90, for a total transaction of C$51,530.60. Following the sale, the director owned 352 shares in the company, valued at approximately C$22,844.80. This represents a 69.28% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 49,494 shares of company stock worth $3,213,691. Company insiders own 0.09% of the company's stock.

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.

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