Emera (TSE:EMA) Reaches New 52-Week High - Should You Buy?

Key Points

• Emera shares reached a new 52-week high of C$77.92 and last traded at C$77.91, above the prior close of C$76.75.
• Analysts maintain a generally positive view, with six Buy ratings and four Holds producing a consensus “Moderate Buy” rating; the average price target is C$75.77, though targets range as high as C$80.
• Emera declared a quarterly dividend of C$0.7325, equivalent to C$2.93 annually and a 3.8% yield. The company reported quarterly EPS of C$1.37 on C$2.81 billion in revenue, but carries high leverage with a debt-to-equity ratio of 168.83.

Emera Incorporated (TSE:EMA - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as C$77.92 and last traded at C$77.91, with a volume of 64888 shares changing hands. The stock had previously closed at C$76.75.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Desjardins boosted their target price on shares of Emera from C$70.00 to C$74.00 and gave the company a "hold" rating in a research note on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on Emera from C$73.00 to C$79.00 in a research report on Tuesday, July 21st. Bank of America raised their target price on Emera from C$73.00 to C$74.00 in a research report on Wednesday, April 8th. Scotiabank upped their price target on shares of Emera from C$78.00 to C$80.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial increased their price objective on shares of Emera from C$74.50 to C$75.25 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Emera currently has a consensus rating of "Moderate Buy" and a consensus price target of C$75.77.

Emera Price Performance

The firm has a 50 day moving average of C$74.27 and a 200-day moving average of C$71.80. The company has a current ratio of 1.07, a quick ratio of 0.23 and a debt-to-equity ratio of 168.83. The company has a market cap of C$23.60 billion, a P/E ratio of 23.59, a P/E/G ratio of 6.20 and a beta of 0.57.

Emera (TSE:EMA - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported C$1.37 earnings per share (EPS) for the quarter. The business had revenue of C$2.81 billion during the quarter. Emera had a net margin of 13.20% and a return on equity of 7.90%. On average, equities research analysts predict that Emera Incorporated will post 3.1991627 EPS for the current year.

Emera Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 17th will be issued a $0.7325 dividend. This represents a $2.93 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, July 31st. Emera's payout ratio is currently 89.14%.

Insider Buying and Selling

In other Emera news, insider Richard Janega sold 16,500 shares of the business's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the sale, the insider owned 19,642 shares in the company, valued at C$1,458,418.50. The trade was a 45.65% decrease in their position. 0.09% of the stock is currently owned by insiders.

About Emera

Emera TSX/NYSE: EMA is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera's common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.

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