Emera (TSE:EMA) Price Target Raised to C$76.00

Emera (TSE:EMA) had its price target raised by Desjardins from C$74.00 to C$76.00 in a research report sent to investors on Monday,BayStreet reports. Desjardins currently has a hold rating on the stock.

Several other brokerages have also commented on EMA. TD cut their price objective on Emera from C$79.00 to C$75.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. National Bank Financial increased their target price on Emera from C$74.00 to C$75.00 and gave the company a “sector perform” rating in a report on Monday. Scotiabank increased their target price on Emera from C$78.00 to C$80.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 21st. Raymond James Financial raised their target price on Emera from C$75.25 to C$77.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Finally, BMO Capital Markets boosted their price target on Emera from C$76.00 to C$80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Emera has a consensus rating of “Moderate Buy” and an average price target of C$76.33.

Emera Trading Up 0.1%

TSE:EMA opened at C$72.26 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.23 and a debt-to-equity ratio of 150.30. Emera has a 12 month low of C$64.62 and a 12 month high of C$77.99. The company has a market cap of C$22.28 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 6.20 and a beta of 0.39. The company has a 50 day simple moving average of C$68.39 and a two-hundred day simple moving average of C$71.16.

Emera (TSE:EMA) last announced its earnings results on Friday, November 6th. The company reported C$0.85 earnings per share for the quarter. The business had revenue of C$1.98 billion during the quarter. Emera had a net margin of 12.50% and a return on equity of 7.08%. Research analysts forecast that Emera will post 3.20 earnings per share for the current year.

Emera Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 13th will be given a $0.74 dividend. The ex-dividend date is Friday, October 30th. This is a boost from Emera’s previous quarterly dividend of $0.7325. This represents a $2.96 annualized dividend and a yield of 4.1%. Emera’s payout ratio is 97.99%.

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.