Brokerages Set Emera Incorporated (TSE:EMA) Target Price at C$59.82

Shares of Emera Incorporated (TSE:EMA) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$59.82.

Several brokerages have issued reports on EMA. BMO Capital Markets raised their price objective on shares of Emera from C$60.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday, May 9th. Royal Bank of Canada raised their price target on Emera from C$60.00 to C$63.00 in a report on Monday, February 24th. CIBC raised their price target on Emera from C$63.00 to C$64.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Scotiabank raised their price target on Emera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Raymond James lowered their target price on Emera from C$64.00 to C$59.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th.

Emera Stock Performance

Shares of EMA opened at C$60.51 on Tuesday. 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 firm has a market cap of C$17.74 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company’s 50 day simple moving average is C$60.79 and its 200-day simple moving average is C$57.41. Emera has a 12-month low of C$44.13 and a 12-month high of C$63.31.

Emera Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 15th were issued a $0.725 dividend. This represents a $2.90 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date of this dividend was Thursday, May 1st. Emera’s dividend payout ratio is presently 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.