Emera Incorporated (TSE:EMA) to Issue Dividend Increase – $0.73 Per Share

Emera Incorporated (TSE:EMA) announced a quarterly dividend on Thursday, October 3rd, Zacks reports. Investors of record on Thursday, November 14th will be paid a dividend of 0.725 per share on Thursday, November 14th. This represents a $2.90 annualized dividend and a yield of 5.44%. The ex-dividend date is Thursday, October 3rd. This is a boost from Emera’s previous quarterly dividend of $0.72.

Emera Stock Performance

Shares of TSE EMA opened at C$53.28 on Wednesday. The firm’s 50-day moving average price is C$50.81 and its 200-day moving average price is C$48.38. The company has a quick ratio of 0.23, a current ratio of 0.79 and a debt-to-equity ratio of 155.62. The company has a market cap of C$15.37 billion, a PE ratio of 20.73, a PEG ratio of 2.77 and a beta of 0.34. Emera has a 52-week low of C$43.67 and a 52-week high of C$53.83.

Emera (TSE:EMA) last released its earnings results on Friday, August 9th. The company reported C$0.53 EPS for the quarter, missing analysts’ consensus estimates of C$0.56 by C($0.03). Emera had a return on equity of 6.60% and a net margin of 10.83%. The firm had revenue of C$1.62 billion for the quarter, compared to the consensus estimate of C$1.67 billion. As a group, analysts anticipate that Emera will post 3.1690821 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James boosted their target price on shares of Emera from C$54.00 to C$57.00 and gave the company an “outperform” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Emera from C$45.00 to C$46.00 in a report on Thursday, July 25th. Bank of America set a C$55.00 target price on Emera and gave the company a “neutral” rating in a research report on Friday, September 20th. Royal Bank of Canada lowered their price objective on Emera from C$60.00 to C$57.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, Scotiabank upped their price objective on Emera from C$52.00 to C$55.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$51.80.

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.