Emera (TSE:EMA) Trading Down 2.7% - Here's Why

Emera Incorporated (TSE:EMA - Get Free Report) shares dropped 2.7% during trading on Wednesday . The stock traded as low as C$56.73 and last traded at C$56.96. Approximately 271,509 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 1,469,313 shares. The stock had previously closed at C$58.56.

Analyst Ratings Changes

A number of research analysts have weighed in on EMA shares. Royal Bank of Canada increased their target price on Emera from C$60.00 to C$63.00 in a report on Monday, February 24th. UBS Group increased their price objective on shares of Emera from C$54.00 to C$59.00 in a research note on Friday, March 21st. Raymond James boosted their target price on shares of Emera from C$57.00 to C$59.00 in a research report on Monday, February 24th. BMO Capital Markets increased their price target on shares of Emera from C$58.00 to C$60.00 in a research report on Monday, February 24th. Finally, Scotiabank boosted their price objective on shares of Emera from C$60.00 to C$62.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$58.55.

Emera Price Performance

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 company has a market cap of C$17.40 billion, a P/E ratio of 23.00, a P/E/G ratio of 6.20 and a beta of 0.35. The firm's fifty day moving average is C$58.33 and its two-hundred day moving average is C$54.93.

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Emera Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 15th will be paid a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Thursday, May 1st. Emera's dividend payout ratio (DPR) 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.