Emera (TSE:EMA) Reaches New 1-Year High – Here’s Why
by Danessa Lincoln · The Markets DailyEmera Incorporated (TSE:EMA – Get Free Report)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$76.46 and last traded at C$76.29, with a volume of 150141 shares changing hands. The stock had previously closed at C$75.59.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on EMA. Bank of America upped their price target on shares of Emera from C$73.00 to C$74.00 in a report on Wednesday, April 8th. Barclays set a C$72.00 price target on Emera and gave the company an “equal weight” rating in a report on Tuesday, April 28th. TD boosted their price objective on Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Desjardins upped their price objective on shares of Emera from C$69.00 to C$70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 28th. Finally, National Bank Financial raised their target price on shares of Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Emera currently has an average rating of “Moderate Buy” and a consensus target price of C$74.39.
View Our Latest Stock Analysis on Emera
Emera Stock Performance
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 50 day simple moving average of C$72.97 and a 200-day simple moving average of C$70.90. The stock has a market cap of C$23.21 billion, a P/E ratio of 23.21, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57.
Emera (TSE:EMA – Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported C$1.37 EPS for the quarter. The firm had revenue of C$2.81 billion for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%. On average, equities analysts expect that Emera Incorporated will post 3.1991627 earnings per share for the current fiscal year.
Emera Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 15th were paid a dividend of $0.7325 per share. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.93 annualized dividend and a dividend yield of 3.9%. Emera’s dividend payout ratio (DPR) is 89.14%.
Insider Buying and Selling at Emera
In other news, insider Richard Janega sold 16,500 shares of the company’s 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 completion of the sale, the insider owned 19,642 shares of the company’s stock, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their position. 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.