Emera (TSE:EMA) Price Target Raised to C$63.00 at CIBC

Emera (TSE:EMA) had its target price increased by CIBC from C$59.00 to C$63.00 in a report released on Friday morning,BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on EMA. UBS Group raised their target price on Emera from C$54.00 to C$59.00 in a report on Friday, March 21st. Scotiabank lifted their price objective on shares of Emera from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Raymond James upped their target price on shares of Emera from C$57.00 to C$59.00 in a research note on Monday, February 24th. Wells Fargo & Company lifted their price target on shares of Emera from C$51.00 to C$56.00 in a research report on Monday, December 9th. Finally, BMO Capital Markets upped their price objective on shares of Emera from C$58.00 to C$60.00 in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$58.55.

Emera Stock Performance

EMA stock opened at C$60.85 on Friday. Emera has a twelve month low of C$44.13 and a twelve month high of C$63.13. 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 company has a market cap of C$17.84 billion, a P/E ratio of 23.59, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The business’s fifty day moving average is C$57.81 and its 200-day moving average is C$54.60.

Emera Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.77%. Emera’s dividend payout ratio (DPR) 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.