Emera (TSE:EMA) Sets New 52-Week High - Here's What Happened

Emera Incorporated (TSE:EMA - Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as C$63.20 and last traded at C$63.15, with a volume of 42840 shares changing hands. The stock had previously closed at C$62.58.

Wall Street Analyst Weigh In

Several research firms have commented on EMA. Scotiabank upped their price objective on shares of Emera from C$60.00 to C$62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. UBS Group boosted their price target on Emera from C$54.00 to C$59.00 in a research note on Friday, March 21st. Raymond James reduced their price target on shares of Emera from C$64.00 to C$59.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. BMO Capital Markets lifted their target price on Emera from C$60.00 to C$65.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Finally, Desjardins set a C$62.00 price target on Emera and gave the company a "hold" rating in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Emera presently has a consensus rating of "Moderate Buy" and a consensus target price of C$59.82.

Emera Stock Down 0.8%

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's 50-day simple moving average is C$60.70 and its 200 day simple moving average is C$57.16. The firm has a market cap of C$18.16 billion, a P/E ratio of 24.01, a PEG ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th were paid a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date was Thursday, May 1st. Emera's dividend payout ratio is 112.40%.

Emera Company Profile

Emera Incorporated, through its subsidiaries, engages in the generation, transmission, and distribution of electricity to various customers. The company operates through Florida Electric Utility, Canadian Electric Utilities, Other Electric Utilities, Gas Utilities and Infrastructure, and Other segments.