Emera (TSE:EMA) Sets New 52-Week High - Still a Buy?

Emera Incorporated (TSE:EMA - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as C$63.31 and last traded at C$63.28, with a volume of 709748 shares trading hands. The stock had previously closed at C$62.68.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. BMO Capital Markets raised their price objective on shares of Emera from C$60.00 to C$65.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. CIBC boosted their target price 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 target price 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 target price on Emera and gave the stock a "hold" rating in a research report on Tuesday, May 6th. Finally, TD Securities raised Emera to a "strong-buy" rating and set a C$69.00 target price for the company in a research report on Friday, June 27th. Three analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$60.58.

Emera Trading Up 0.5%

The stock has a 50 day simple moving average of C$61.77 and a 200-day simple moving average of C$59.22. The firm has a market capitalization of C$18.67 billion, a P/E ratio of 24.68, a P/E/G ratio of 6.20 and a beta of 0.35. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, August 1st will be paid a dividend of $0.725 per share. The ex-dividend date is Friday, August 1st. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.55%. Emera's dividend payout ratio is currently 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.