Emera (TSE:EMA) Upgraded at Bank of America

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

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

Emera Stock Up 1.3 %

Shares of EMA opened at C$53.55 on Monday. The firm has a market cap of C$15.44 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 6.20 and a beta of 0.35. The company has a debt-to-equity ratio of 155.62, a quick ratio of 0.23 and a current ratio of 0.79. Emera has a 52 week low of C$44.13 and a 52 week high of C$54.19. The firm’s 50-day simple moving average is C$52.06 and its 200 day simple moving average is C$49.58.

Emera Dividend Announcement

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