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

Emera Incorporated (TSE:EMA - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as C$62.48 and last traded at C$61.89, with a volume of 119552 shares. The stock had previously closed at C$60.91.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. CIBC lifted their price objective on Emera from C$59.00 to C$63.00 in a research report on Friday. Wells Fargo & Company lifted their price target on Emera from C$51.00 to C$56.00 in a report on Monday, December 9th. Royal Bank of Canada upped their price objective on shares of Emera from C$60.00 to C$63.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. raised shares of Emera from an "underperform" rating to a "neutral" rating and raised their target price for the stock from C$51.00 to C$56.00 in a research report on Thursday, December 12th. Finally, Scotiabank upped their price target on shares of Emera from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$58.55.

Emera Trading Up 0.2 %

The company has a market capitalization of C$17.34 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The stock has a 50-day moving average of C$57.88. The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23.

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Emera Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, February 14th were given a dividend of $0.725 per share. The ex-dividend date was Friday, January 31st. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.90%. Emera's payout ratio is currently 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.