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

Emera Incorporated (TSE:EMA)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as C$56.72 and last traded at C$56.43, with a volume of 162781 shares. The stock had previously closed at C$56.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EMA shares. Scotiabank lifted their price objective on shares of Emera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. upgraded shares of Emera from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from C$51.00 to C$56.00 in a research note on Thursday, December 12th. National Bankshares raised their target price on shares of Emera from C$54.00 to C$55.00 in a report on Thursday, December 5th. Bank of America raised shares of Emera from a “neutral” rating to a “buy” rating and raised their target price for the stock from C$55.00 to C$57.00 in a report on Monday, November 25th. Finally, BMO Capital Markets raised their target price on shares of Emera from C$54.00 to C$58.00 in a report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Emera currently has a consensus rating of “Moderate Buy” and an average target price of C$57.30.

Emera Stock Up 1.9 %

The company has a debt-to-equity ratio of 150.23, a current ratio of 0.72 and a quick ratio of 0.23. The business’s fifty day simple moving average is C$54.45 and its two-hundred day simple moving average is C$52.71. The company has a market cap of C$16.92 billion, a PE ratio of 22.36, a PEG ratio of 6.20 and a beta of 0.35.

Emera Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were issued a $0.725 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.90 dividend on an annualized basis and a yield of 5.03%. Emera’s 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.