Royal Bank of Canada Raises Emera (TSE:EMA) Price Target to C$60.00

by · The Markets Daily

Emera (TSE:EMA – Free Report) had its price target boosted by Royal Bank of Canada from C$57.00 to C$60.00 in a report released on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

EMA has been the subject of a number of other research reports. Raymond James lifted their price target on Emera from C$54.00 to C$57.00 and gave the company an outperform rating in a research note on Monday, August 12th. Scotiabank lifted their price target on Emera from C$52.00 to C$55.00 and gave the company an outperform rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on Emera from C$45.00 to C$46.00 in a research note on Thursday, July 25th. CIBC cut their price target on Emera from C$51.00 to C$50.00 and set a neutral rating for the company in a research note on Monday, July 22nd. Finally, Bank of America set a C$55.00 price target on Emera and gave the company a neutral rating in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of C$52.10.

Check Out Our Latest Stock Analysis on EMA

Emera Price Performance

EMA stock opened at C$52.14 on Thursday. The stock has a market capitalization of C$15.04 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.77 and a beta of 0.35. The company’s 50-day moving average is C$51.06 and its 200-day moving average is C$48.49. The company has a debt-to-equity ratio of 155.62, a current ratio of 0.79 and a quick ratio of 0.23. Emera has a 1 year low of C$43.67 and a 1 year high of C$53.83.

Emera (TSE:EMA – Get Free Report) last released its quarterly earnings data on Friday, August 9th. The company reported C$0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.03). Emera had a return on equity of 6.60% and a net margin of 10.83%. The company had revenue of C$1.62 billion for the quarter, compared to the consensus estimate of C$1.67 billion. Equities research analysts expect that Emera will post 3.121734 EPS for the current fiscal year.

Emera Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.725 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $2.90 annualized dividend and a dividend yield of 5.56%. This is a boost from Emera’s previous quarterly dividend of $0.72. Emera’s dividend payout ratio (DPR) is currently 112.84%.

About Emera

(Get Free Report)

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.

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