Emera (TSE:EMA) Reaches New 52-Week High – Time to Buy?

Emera Incorporated (TSE:EMA) shares reached a new 52-week high during trading on Friday . The stock traded as high as C$69.89 and last traded at C$69.88, with a volume of 171069 shares. The stock had previously closed at C$68.66.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Canadian Imperial Bank of Commerce increased their price objective on shares of Emera from C$71.00 to C$72.00 in a research note on Monday, November 10th. Raymond James Financial boosted their price target on Emera from C$70.00 to C$73.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Desjardins lifted their price target on shares of Emera from C$64.00 to C$68.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Scotiabank lifted their price objective on shares of Emera from C$72.00 to C$78.00 in a research note on Tuesday, December 16th. Finally, Royal Bank Of Canada upped their price objective on Emera from C$70.00 to C$76.00 in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Emera has an average rating of “Moderate Buy” and an average price target of C$71.00.

Emera Trading Up 2.1%

The company has a quick ratio of 0.23, a current ratio of 0.72 and a debt-to-equity ratio of 150.23. The company has a 50-day moving average price of C$67.29 and a 200-day moving average price of C$66.72. The company has a market capitalization of C$21.15 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 6.20 and a beta of 0.59.

Emera (TSE:EMA) last released its earnings results on Friday, November 7th. The company reported C$0.88 EPS for the quarter. The firm had revenue of C$2.11 billion during the quarter. Emera had a net margin of 10.51% and a return on equity of 6.06%. Research analysts predict that Emera Incorporated will post 3.1991627 EPS for the current fiscal year.

Insider Buying and Selling at Emera

In related news, Director Scott Carlyle Balfour sold 10,000 shares of Emera stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of C$67.75, for a total transaction of C$677,500.00. Following the completion of the transaction, the director directly owned 7,733 shares of the company’s stock, valued at C$523,910.75. This trade represents a 56.39% decrease in their position. Also, insider Daniel Muldoon sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of C$67.00, for a total transaction of C$536,000.00. Following the sale, the insider directly owned 2,378 shares of the company’s stock, valued at approximately C$159,326. The trade was a 77.09% decrease in their position. Insiders sold a total of 38,000 shares of company stock worth $2,578,500 in the last 90 days. 0.09% of the stock is owned by corporate insiders.

Emera Company Profile

Emera is a geographically diverse energy and services company investing in electricity generation, transmission, and distribution as well as gas transmission and utility energy services. Emera has operations throughout North America and the Caribbean countries.