Shares of Emera Incorporated (TSE:EMA – Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as C$76.46 and last traded at C$76.29, with a volume of 150141 shares traded. The stock had previously closed at C$75.59.
Wall Street Analyst Weigh In
EMA has been the subject of several research analyst reports. Desjardins raised their target price on Emera from C$69.00 to C$70.00 and gave the company a “hold” rating in a research report on Tuesday, April 28th. Barclays set a C$72.00 price target on shares of Emera and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. Raymond James Financial lifted their price objective on shares of Emera from C$74.50 to C$75.25 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. National Bank Financial boosted their target price on shares of Emera from C$69.00 to C$75.00 and gave the company a “sector perform” rating in a research note on Monday, June 1st. Finally, TD raised their price target on shares of Emera from C$75.00 to C$77.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$74.39.
View Our Latest Stock Report on Emera
Emera Stock Performance
Emera (TSE:EMA – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported C$1.37 earnings per share (EPS) for the quarter. The company had revenue of C$2.81 billion for the quarter. Emera had a net margin of 13.20% and a return on equity of 7.90%. As a group, equities research analysts expect that Emera Incorporated will post 3.1991627 EPS for the current fiscal year.
Emera Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 15th were given a $0.7325 dividend. The ex-dividend date was Friday, May 1st. This represents a $2.93 annualized dividend and a dividend yield of 3.9%. Emera’s payout ratio is 89.14%.
Insider Activity
In related news, insider Richard Janega sold 16,500 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$74.25, for a total transaction of C$1,225,125.00. Following the sale, the insider owned 19,642 shares of the company’s stock, valued at approximately C$1,458,418.50. This represents a 45.65% decrease in their position. Insiders own 0.09% of the company’s stock.
About Emera
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.
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