Emera (TSE:EMA) Rating Increased to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Emera (TSE:EMA) from an underperform rating to a neutral rating in a research note issued to investors on Thursday morning,BayStreet.CA reports. The firm currently has C$56.00 target price on the stock, up from their previous target price of C$51.00.

EMA has been the subject of several other research reports. BMO Capital Markets upped their price objective on shares of Emera from C$54.00 to C$58.00 in a research report on Thursday, December 5th. Royal Bank of Canada lifted their price objective on shares of Emera from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Scotiabank upped their target price on Emera from C$55.00 to C$60.00 in a research note on Thursday, December 5th. CIBC upgraded Emera from a “neutral” rating to an “outperform” rating and lifted their price target for the company from C$54.00 to C$58.00 in a research note on Monday, December 2nd. Finally, Wells Fargo & Company upped their price objective on Emera from C$51.00 to C$56.00 in a research report on Monday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$57.10.

Emera Price Performance

Emera stock opened at C$54.57 on Thursday. The stock’s fifty day moving average price is C$52.43 and its two-hundred day moving average price is C$50.01. The firm has a market cap of C$15.74 billion, a PE ratio of 21.23, 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 current ratio of 0.79 and a quick ratio of 0.23. Emera has a one year low of C$44.13 and a one year high of C$56.20.

Emera Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 15th were paid a dividend of $0.725 per share. This represents a $2.90 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date was Friday, November 1st. Emera’s payout ratio is 112.84%.

Emera Company Profile

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.