Emera (TSE:EMA) Reaches New 1-Year High - Here's What Happened

Emera Incorporated (TSE:EMA - Get Free Report)'s stock price hit a new 52-week high on Friday . The company traded as high as C$53.83 and last traded at C$53.81, with a volume of 128625 shares. The stock had previously closed at C$53.49.

Analysts Set New Price Targets

EMA has been the topic of a number of recent analyst reports. Raymond James lifted their price target on shares of Emera from C$54.00 to C$57.00 and gave the company an "outperform" rating in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of Emera from C$45.00 to C$46.00 in a research report on Thursday, July 25th. CIBC lowered their price target on Emera from C$51.00 to C$50.00 and set a "neutral" rating on the stock in a research report on Monday, July 22nd. Scotiabank raised their target price on Emera from C$52.00 to C$55.00 and gave the company an "outperform" rating in a report on Tuesday, August 20th. Finally, Royal Bank of Canada upped their price target on Emera from C$57.00 to C$60.00 and gave the stock an "outperform" rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of C$52.10.

Emera Stock Performance

The stock has a 50-day moving average of C$51.43 and a 200 day moving average of C$48.74. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79. The firm has a market capitalization of C$15.46 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35.

Emera (TSE:EMA - Get Free Report) last announced its earnings results on Friday, August 9th. The company reported C$0.53 earnings per share for the quarter, missing analysts' consensus estimates of C$0.56 by C($0.03). Emera had a return on equity of 6.60% and a net margin of 10.83%. The company had revenue of C$1.62 billion during the quarter, compared to the consensus estimate of C$1.67 billion. On average, research analysts anticipate that Emera Incorporated will post 3.1991627 earnings per share for the current year.

Emera Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 1st will be issued a dividend of $0.725 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $2.90 annualized dividend and a yield of 5.41%. Emera's dividend payout ratio is currently 112.84%.

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.