Emera Incorporated (TSE:EMA – Get Rating)’s stock price reached a new 52-week low during trading on Wednesday after CIBC lowered their price target on the stock from C$66.00 to C$55.00. The stock traded as low as C$48.63 and last traded at C$49.66, with a volume of 979585 shares. The stock had previously closed at C$54.22.
A number of other equities research analysts have also recently commented on EMA. BMO Capital Markets reduced their price target on shares of Emera from C$69.00 to C$66.00 in a research report on Tuesday, September 20th. UBS Group lifted their target price on Emera to C$74.00 and gave the stock a “buy” rating in a report on Tuesday, September 27th. Bank of America upgraded Emera from a “neutral” rating to a “buy” rating and boosted their price target for the stock from C$65.00 to C$68.99 in a research note on Tuesday, August 16th. Finally, JPMorgan Chase & Co. raised Emera from an “underweight” rating to a “neutral” rating and increased their price objective for the company from C$63.00 to C$66.00 in a research report on Friday, September 9th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$65.83.
Emera Price Performance
The firm has a 50 day moving average of C$59.30 and a 200-day moving average of C$60.96. The company has a current ratio of 0.67, a quick ratio of 0.25 and a debt-to-equity ratio of 161.79. The company has a market cap of C$13.56 billion and a P/E ratio of 24.64.
Emera (TSE:EMA – Get Rating) last announced its quarterly earnings results on Wednesday, August 10th. The company reported C$0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.60 by C($0.01). The business had revenue of C$1.38 billion for the quarter, compared to the consensus estimate of C$1.43 billion. On average, equities research analysts predict that Emera Incorporated will post 3.25 EPS for the current year.
Emera Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be paid a $0.69 dividend. This is a boost from Emera’s previous quarterly dividend of $0.66. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend is Monday, October 31st. Emera’s dividend payout ratio (DPR) is presently 125.60%.
About Emera
Emera Incorporated, an energy and services company, 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.