Emera (TSE:EMA) Reaches New 1-Year High - Should You Buy?

Emera Incorporated (TSE:EMA - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as C$58.46 and last traded at C$58.35, with a volume of 121355 shares changing hands. The stock had previously closed at C$57.28.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EMA. Bank of America upgraded 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. JPMorgan Chase & Co. upgraded Emera from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from C$51.00 to C$56.00 in a research report on Thursday, December 12th. Wells Fargo & Company upped their price objective on Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. Scotiabank upped their price objective on Emera from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets upped their price objective on Emera from C$58.00 to C$60.00 in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$58.10.

Emera Stock Up 0.7 %

The stock has a market cap of C$16.97 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company has a current ratio of 0.72, a quick ratio of 0.23 and a debt-to-equity ratio of 150.23. The business has a 50-day moving average price of C$54.81 and a 200-day moving average price of C$53.02.

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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 5.01%. 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.