Emera (TSE:EMA) Stock Price Down 2.4% – Should You Sell?

Emera Incorporated (TSE:EMA) traded down 2.4% during trading on Wednesday . The stock traded as low as C$56.63 and last traded at C$57.15. 569,672 shares changed hands during trading, a decline of 61% from the average session volume of 1,472,402 shares. The stock had previously closed at C$58.56.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Emera from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from C$51.00 to C$56.00 in a report on Thursday, December 12th. Royal Bank of Canada lifted their price objective on shares of Emera from C$60.00 to C$63.00 in a research note on Monday, February 24th. Raymond James increased their target price on shares of Emera from C$57.00 to C$59.00 in a research note on Monday, February 24th. CIBC raised their price target on shares of Emera from C$59.00 to C$63.00 in a report on Friday, April 4th. Finally, UBS Group upped their price objective on shares of Emera from C$54.00 to C$59.00 in a report on Friday, March 21st. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Emera has a consensus rating of “Moderate Buy” and a consensus 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 business has a 50 day simple moving average of C$58.25 and a 200-day simple moving average of C$54.88. The firm has a market cap of C$17.28 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 6.20 and a beta of 0.35.

Emera Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 15th will be issued a dividend of $0.725 per share. The ex-dividend date of this dividend is Thursday, May 1st. This represents a $2.90 annualized dividend and a yield of 4.92%. Emera’s dividend payout ratio (DPR) 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.