Emera (TSE:EMA) Stock Price Down 2.7% – Time to Sell?

Shares of Emera Incorporated (TSE:EMA) were down 2.7% on Wednesday . The stock traded as low as C$56.73 and last traded at C$56.96. Approximately 271,509 shares traded hands during 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 Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Emera from C$60.00 to C$63.00 in a research note on Monday, February 24th. Raymond James increased their price target on shares of Emera from C$57.00 to C$59.00 in a research report on Monday, February 24th. UBS Group upped their target price on shares of Emera from C$54.00 to C$59.00 in a research note on Friday, March 21st. JPMorgan Chase & Co. raised shares of Emera from an “underperform” rating to a “neutral” rating and raised their price target for the company from C$51.00 to C$56.00 in a research report on Thursday, December 12th. 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 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$58.55.

Emera Trading Down 2.5 %

The company has a 50 day simple moving average of C$58.03 and a 200 day simple moving average of C$54.73. 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 stock has a market capitalization of C$16.75 billion, a PE ratio of 22.14, a P/E/G ratio of 6.20 and a beta of 0.35.

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 given a dividend of $0.725 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $2.90 dividend on an annualized basis and a yield of 5.08%. 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.