Bank of America Upgrades Emera (TSE:EMA) to “Buy”

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

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

Emera Stock Performance

Shares of TSE EMA opened at C$52.52 on Monday. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79. The company has a 50-day simple moving average of C$52.02. The company has a market cap of C$15.15 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. Emera has a fifty-two week low of C$44.13 and a fifty-two week high of C$54.19.

Emera Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 15th were given a $0.725 dividend. This represents a $2.90 annualized dividend and a yield of 5.52%. The ex-dividend date of this dividend was Friday, November 1st. Emera’s dividend payout ratio is 112.84%.

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.