Emera (TSE:EMA) Price Target Raised to C$79.00

Emera (TSE:EMA) had its target price boosted by stock analysts at TD from C$77.00 to C$79.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD’s price objective points to a potential upside of 11.72% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. Raymond James Financial raised their price target on shares of Emera from C$75.25 to C$77.00 and gave the stock an “outperform” rating in a research report on Monday. Desjardins upped their price objective on shares of Emera from C$70.00 to C$74.00 and gave the company a “hold” rating in a report on Monday, July 20th. Scotiabank increased their price objective on shares of Emera from C$78.00 to C$80.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on shares of Emera from C$76.00 to C$84.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Barclays lowered their price target on shares of Emera from C$74.00 to C$71.00 in a report on Monday. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Emera presently has an average rating of “Moderate Buy” and an average target price of C$76.67.

Emera Stock Performance

Emera stock traded down C$0.17 during trading hours on Monday, hitting C$70.71. 472,689 shares of the stock traded hands, compared to its average volume of 1,231,897. The firm’s 50 day moving average price is C$74.49 and its 200-day moving average price is C$72.22. The company has a debt-to-equity ratio of 153.87, a current ratio of 0.73 and a quick ratio of 0.23. The stock has a market capitalization of C$21.72 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 6.20 and a beta of 0.57. Emera has a 1 year low of C$63.17 and a 1 year high of C$77.99.

Emera (TSE:EMA) last announced its quarterly earnings data on Friday, August 7th. The company reported C$0.69 earnings per share (EPS) for the quarter. Emera had a return on equity of 7.51% and a net margin of 12.85%.The firm had revenue of C$2.01 billion during the quarter. As a group, equities analysts expect that Emera will post 3.1991627 EPS for the current fiscal year.

Insider Activity

In related news, insider Richard Janega sold 16,500 shares of Emera stock in a transaction on Tuesday, June 16th. The shares were 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 approximately C$1,458,418.50. This trade represents a 45.65% decrease in their position. 0.09% of the stock is owned by company 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.