Emera (TSE:EMA) Hits New 1-Year High – Still a Buy?

Emera Incorporated (TSE:EMA)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$76.45 and last traded at C$75.98, with a volume of 10526 shares changing hands. The stock had previously closed at C$76.23.

Analyst Upgrades and Downgrades

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

Emera Stock Down 0.5%

The company has a market capitalization of C$23.20 billion, a P/E ratio of 23.19, a price-to-earnings-growth ratio of 6.20 and a beta of 0.57. The company has a 50-day moving average of C$72.42 and a two-hundred day moving average of C$70.43. The company has a quick ratio of 0.23, a current ratio of 1.07 and a debt-to-equity ratio of 168.83.

Emera (TSE:EMA) last posted its quarterly earnings data on Friday, May 8th. The company reported C$1.37 earnings per share (EPS) for the quarter. The business had revenue of C$2.81 billion during the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%. On average, research analysts predict that Emera Incorporated will post 3.1991627 EPS for the current year.

Emera Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were given a $0.7325 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $2.93 dividend on an annualized basis and a dividend yield of 3.9%. Emera’s dividend payout ratio is currently 89.14%.

Insider Activity

In related news, insider Richard Janega sold 16,500 shares of the stock in a transaction dated 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 transaction, the insider directly owned 19,642 shares in the company, valued at C$1,458,418.50. This trade represents a 45.65% decrease in their position. 0.09% of the stock is currently owned by insiders.

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.