Emera (TSE:EMA) Reaches New 12-Month High – Still a Buy?

Emera Incorporated (TSE:EMA) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$71.46 and last traded at C$71.20, with a volume of 238717 shares changing hands. The stock had previously closed at C$71.05.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce raised their price target on shares of Emera from C$71.00 to C$72.00 in a research note on Monday, November 10th. TD Securities increased their target price on Emera from C$74.00 to C$75.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Royal Bank Of Canada lifted their price target on Emera from C$70.00 to C$76.00 in a research note on Monday, November 10th. Raymond James Financial boosted their price target on Emera from C$73.00 to C$74.50 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Finally, Scotiabank raised their price objective on Emera from C$72.00 to C$78.00 in a report on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$71.72.

Emera Trading Up 0.5%

The company has a market capitalization of C$21.55 billion, a PE ratio of 21.13, a PEG ratio of 6.20 and a beta of 0.59. The company has a fifty day simple moving average of C$68.43 and a 200-day simple moving average of C$67.23. The company has a current ratio of 0.66, a quick ratio of 0.23 and a debt-to-equity ratio of 161.69.

Emera (TSE:EMA) last announced its quarterly earnings data on Monday, February 23rd. The company reported C$1.48 earnings per share (EPS) for the quarter. Emera had a net margin of 13.11% and a return on equity of 8.11%. The firm had revenue of C$2.01 billion during the quarter. Analysts predict that Emera Incorporated will post 3.1991627 EPS for the current year.

Insider Buying and Selling

In related news, Director Scott Carlyle Balfour sold 10,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of C$67.75, for a total value of C$677,500.00. Following the completion of the transaction, the director directly owned 7,733 shares in the company, valued at approximately C$523,910.75. This represents a 56.39% decrease in their ownership of the stock. Also, insider Daniel Muldoon sold 8,000 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of C$67.00, for a total value 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. This trade represents a 77.09% decrease in their position. 0.09% of the stock is owned by company insiders.

About Emera

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.