Shares of Emera Incorporated (TSE:EMA) reached a new 52-week high during mid-day trading on Wednesday after Scotiabank raised their price target on the stock from C$50.00 to C$51.00. Scotiabank currently has a sector perform rating on the stock. Emera traded as high as C$49.48 and last traded at C$48.46, with a volume of 591768 shares changing hands. The stock had previously closed at C$48.66.

Several other equities analysts have also recently commented on EMA. Barclays boosted their target price on shares of Emera from C$53.00 to C$54.00 in a research report on Monday, August 14th. TD Securities boosted their target price on shares of Emera from C$51.00 to C$53.00 and gave the company a “buy” rating in a research report on Monday, August 14th. CIBC boosted their target price on shares of Emera from C$54.00 to C$56.00 in a research report on Friday, September 29th. Finally, BMO Capital Markets boosted their target price on shares of Emera from C$51.00 to C$52.00 and gave the company a “market perform” rating in a research report on Monday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of C$53.79.

In other Emera news, insider Daniel Muldoon sold 16,700 shares of the company’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of C$47.33, for a total value of C$790,411.00. Also, insider Bruce Marchand sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of C$47.06, for a total transaction of C$61,178.00. Over the last 90 days, insiders sold 38,775 shares of company stock valued at $1,859,177.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 1st were paid a $0.565 dividend. This is a positive change from Emera’s previous quarterly dividend of $0.52. This represents a $2.26 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Tuesday, October 31st. Emera’s dividend payout ratio is currently 78.28%.

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Emera Company Profile

Emera Incorporated is an energy and services company, which invests in electricity generation, transmission and distribution, gas transmission and utility services. The Company operates through six segments: Emera Florida and New Mexico; Nova Scotia Power Inc (NSPI); Emera Maine; Emera Caribbean; Emera Energy, and Corporate and Other.

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