Emera (TSE:EMA) Sets New 1-Year High – Here’s What Happened

Shares of Emera Incorporated (TSE:EMA) reached a new 52-week high during trading on Wednesday . The company traded as high as C$76.62 and last traded at C$76.58, with a volume of 139365 shares traded. The stock had previously closed at C$76.17.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Raymond James Financial lifted their target price on Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. National Bank Financial raised their target price on Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a research report on Monday, June 1st. Barclays set a C$72.00 price target on shares of Emera and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Bank of America increased their price objective on shares of Emera from C$73.00 to C$74.00 in a report on Wednesday, April 8th. Finally, TD upped their price target on Emera from C$75.00 to C$77.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Emera presently has a consensus rating of “Moderate Buy” and an average target price of C$74.39.

Emera Stock Performance

The stock has a 50 day simple moving average of C$73.55 and a two-hundred day simple moving average of C$71.35. The company has a debt-to-equity ratio of 168.83, a current ratio of 1.07 and a quick ratio of 0.23. The company has a market capitalization of C$23.47 billion, a price-to-earnings ratio of 23.46, a PEG ratio of 6.20 and a beta of 0.57.

Emera (TSE:EMA) last announced its quarterly earnings results on Friday, May 8th. The company reported C$1.37 EPS for the quarter. The company had revenue of C$2.81 billion for the quarter. Emera had a net margin of 13.20% and a return on equity of 7.90%. As a group, analysts anticipate that Emera Incorporated will post 3.1991627 earnings per share for the current year.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, August 17th will be paid a dividend of $0.7325 per share. This represents a $2.93 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, July 31st. Emera’s dividend payout ratio (DPR) is currently 89.14%.

Insider Activity

In other news, insider Richard Janega sold 16,500 shares of Emera stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$74.25, for a total value of C$1,225,125.00. Following the transaction, the insider directly owned 19,642 shares of the company’s stock, valued at C$1,458,418.50. The trade was a 45.65% decrease in their position. Company insiders own 0.09% of the company’s stock.

Emera Company Profile

Emera (TSX/NYSE: EMA) is a leading North American provider of energy services headquartered in Halifax, Nova Scotia, with investments in regulated electric and natural gas utilities, and related businesses and assets. The Emera family of companies delivers safe, reliable energy to approximately 2.7 million customers in the United States, Canada and the Caribbean. Our team of 7,800 employees is committed to our purpose of energizing modern life and delivering a cleaner energy future for all. Emera’s common and preferred shares are listed and trade on the Toronto Stock Exchange and its common shares are listed and trade on the New York Stock Exchange.