Emera (TSE:EMA) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of Emera (TSE:EMA) from a neutral rating to a buy rating in a research report released on Monday,BayStreet.CA reports. The firm currently has C$57.00 price objective on the stock, up from their prior price objective of C$55.00.

Several other equities research analysts have also issued reports on EMA. Scotiabank lifted their price target on shares of Emera from C$52.00 to C$55.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Royal Bank of Canada boosted their target price on shares of Emera from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Raymond James upped their price target on shares of Emera from C$54.00 to C$57.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, National Bankshares raised their price objective on Emera from C$49.00 to C$54.00 and gave the company a “sector perform” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Emera has an average rating of “Moderate Buy” and a consensus price target of C$52.30.

Emera Stock Performance

Emera stock opened at C$53.55 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62. The stock has a market cap of C$15.44 billion, a PE ratio of 20.86, a P/E/G ratio of 6.20 and a beta of 0.35. Emera has a 12-month low of C$44.13 and a 12-month high of C$54.19. The business’s 50-day moving average price is C$52.06 and its two-hundred day moving average price is C$49.58.

Emera Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 15th were given a dividend of $0.725 per share. This represents a $2.90 annualized dividend and a yield of 5.42%. The ex-dividend date was Friday, November 1st. Emera’s dividend payout ratio is currently 112.84%.

Emera Company Profile

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.