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

Key Points

• Emera's stock price reached a new 52-week high of C$65.55, highlighting a positive momentum in trading, with the last recorded price at C$65.04.
• Analysts have diverse opinions on the stock, with ratings ranging from "hold" to "strong buy," and an average target price of C$60.58, indicating moderate confidence in its future performance.
• The company announced a quarterly dividend of $0.725 per share, resulting in an annualized dividend yield of 4.4%, emphasizing its commitment to returning value to shareholders despite a high payout ratio of 112.40%.

Emera Incorporated (TSE:EMA - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$65.55 and last traded at C$65.04, with a volume of 86685 shares traded. The stock had previously closed at C$64.50.

Analyst Ratings Changes

A number of analysts have issued reports on the company. 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. TD Securities upgraded Emera to a "strong-buy" rating and set a C$69.00 price target for the company in a research report on Friday, June 27th. BMO Capital Markets lifted their price target 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. CIBC lifted their price target on Emera from C$63.00 to C$64.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Emera currently has a consensus rating of "Moderate Buy" and an average target price of C$60.58.

Emera Price Performance

The firm's fifty day simple moving average is C$62.39 and its 200-day simple moving average is C$60.02. 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 firm has a market capitalization of C$19.24 billion, a PE ratio of 25.43, a PEG ratio of 6.20 and a beta of 0.35.

Emera Dividend Announcement

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

Emera Company Profile

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.