Emera (TSE:EMA) Sets New 12-Month High - Here's What Happened

Emera Incorporated (TSE:EMA - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$59.00 and last traded at C$58.78, with a volume of 977305 shares. The stock had previously closed at C$57.86.

Analyst Upgrades and Downgrades

EMA has been the subject of a number of research analyst reports. Bank of America raised Emera from a "neutral" rating to a "buy" rating and upped their target price for the company from C$55.00 to C$57.00 in a research report on Monday, November 25th. BMO Capital Markets lifted their target price on shares of Emera from C$58.00 to C$60.00 in a report on Monday, February 24th. National Bankshares upped their price target on shares of Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. JPMorgan Chase & Co. upgraded shares of Emera from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from C$51.00 to C$56.00 in a research note on Thursday, December 12th. Finally, Scotiabank raised their price target on Emera from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Emera presently has a consensus rating of "Moderate Buy" and an average target price of C$58.10.

Emera Stock Up 1.3 %

The company has a debt-to-equity ratio of 150.23, a quick ratio of 0.23 and a current ratio of 0.72. The firm has a market capitalization of C$17.28 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 6.20 and a beta of 0.35. The firm has a fifty day moving average price of C$55.20 and a 200 day moving average price of C$53.26.

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Emera Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, February 14th were paid a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend was Friday, January 31st. Emera's payout ratio is currently 112.40%.

About Emera

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.