Emera (TSE:EMA) Price Target Raised to C$80.00

Emera (TSE:EMA) had its target price boosted by stock analysts at Scotiabank from C$78.00 to C$80.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 6.21% from the stock’s current price.

Several other equities analysts have also issued reports on the company. Desjardins increased their target price on Emera from C$70.00 to C$74.00 and gave the stock a “hold” rating in a research note on Monday. Barclays set a C$72.00 target price on Emera and gave the company an “equal weight” rating in a research report on Tuesday, April 28th. TD boosted 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. Bank of America increased their price target on shares of Emera from C$73.00 to C$74.00 in a research report on Wednesday, April 8th. Finally, Raymond James Financial raised their price objective on shares of Emera from C$74.50 to C$75.25 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$75.27.

Emera Trading Down 1.4%

TSE EMA traded down C$1.06 on Tuesday, reaching C$75.32. The stock had a trading volume of 295,003 shares, compared to its average volume of 1,223,481. The firm has a market capitalization of C$23.04 billion, a price-to-earnings ratio of 23.03, a P/E/G ratio of 6.20 and a beta of 0.57. The company has a quick ratio of 0.23, a current ratio of 1.07 and a debt-to-equity ratio of 168.83. Emera has a 12-month low of C$63.17 and a 12-month high of C$77.80. The stock has a fifty day moving average price of C$73.76 and a two-hundred day moving average price of C$71.48.

Emera (TSE:EMA) last released its quarterly earnings results on Friday, May 8th. The company reported C$1.37 EPS for the quarter. Emera had a return on equity of 7.90% and a net margin of 13.20%.The company had revenue of C$2.81 billion for the quarter. As a group, sell-side analysts forecast that Emera will post 3.1991627 EPS for the current fiscal year.

Insider Transactions at Emera

In other Emera 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 value of C$1,225,125.00. Following the sale, the insider owned 19,642 shares of the company’s stock, valued at C$1,458,418.50. This trade represents a 45.65% decrease in their position. 0.09% of the stock is owned by corporate insiders.

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.