Emera (TSE:EMA) Sets New 52-Week High – Should You Buy?

Emera Incorporated (TSE:EMA) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$56.72 and last traded at C$56.43, with a volume of 162781 shares changing hands. The stock had previously closed at C$56.09.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Emera from an “underperform” rating to a “neutral” rating and lifted their target price for the company from C$51.00 to C$56.00 in a research report on Thursday, December 12th. BMO Capital Markets lifted their target price on shares of Emera from C$54.00 to C$58.00 in a research report on Thursday, December 5th. Scotiabank lifted their target price on shares of Emera from C$60.00 to C$62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. CIBC upgraded shares of Emera from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$54.00 to C$58.00 in a research report on Monday, December 2nd. Finally, National Bankshares boosted their price target on shares of Emera from C$54.00 to C$55.00 in a research report on Thursday, December 5th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$57.30.

Emera Stock Up 1.9 %

The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23. The stock has a market capitalization of C$16.92 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The business’s 50-day moving average is C$54.45 and its two-hundred day moving average is C$52.71.

Emera Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 14th were issued a $0.725 dividend. The ex-dividend date was Friday, January 31st. This represents a $2.90 annualized dividend and a yield of 5.03%. Emera’s payout ratio is 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.